TM unit Mobikom increases stake in webe, pays RM495mil

Incumbent fixed operator, Telekom Malaysia Bhd's entry into 4G market may put more pressure on mobile phone operators.

PETALING JAYA: Telekom Malaysia Bhd’s (TM) unit Mobikom Sdn Bhd has subscribed to RM495mil convertible medium term notes (CMTNs) allowing the company to boost further its shareholding in Webe Digital Sdn Bhd (webe – formerly Packet One Networks (M) Sdn Bhd).

Mobikom had raised its stake in the digital mobility services provider in February from 55.3% to 72.9% following an early conversion of the first-tranche CMTNs issued by webe. Subject to the conversion of these second-tranche notes into shares, the move will bring TM’s stake (via Mobikom) to 82%.