PETALING JAYA: REDtone International Bhd has entered into a share sale agreement with Sultan Ibrahim Ismail of Johor to divest 21% in its subsidiary REDtone Network Sdn Bhd (RN) for a total cash consideration of RM315,000.
Upon the divestment of the 315,000 shares of RM1 each, RN will be a 49%-owned associate company of REDtone, with Sultan Ibrahim holding 51%, the company told Bursa Malaysia.
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