SINGAPORE: Telekom Malaysia Bhd and its parent Khazanah Nasional Bhd have increased their stake in Singapore's MobileOne Ltd. to 27.55% from 26.12%, as part of a plan to expand overseas.
The 14 million shares, equivalent to a 1.43% stake, were bought from Feb 16 to March 1, MobileOne Ltd, the smallest of three mobile-phone companies in Singapore, told the Singapore Exchange yesterday.
The shares were bought by SunShare Investments Ltd, 80%-owned by TM and one-fifth by Khazanah. No price was given.
Khazanah, which owns more than two dozen companies with a total market value of about US$16 billion, is increasing overseas investments to improve returns. TM has been looking abroad as growth slows in its home market, where more than 70% of the 26 million people own cell phones. –Bloomberg
TM : [Stock Watch] [News] TM-CA : [Stock Watch]
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