Green Packet divests WeBe stake, clears RM272.56mil of debt

The agreement entails surrendering all its shares and convertible medium-term notes (CMTN) related to WeBe Digital Sdn Bhd back to TM. In a filing with Bursa Malaysia last Friday, Green Packet said both parties had come to an agreement to swap MTN issued by Green Packet and held by TM in return for all the securities and debt instruments that Green Packet held in WeBe.

PETALING JAYA: Green Packet Bhd, which in 2014 sold a controlling interest in its mobile business to Telekom Malaysia Bhd (TM), has entered into an agreement with the latter to divest its remaining interest in the asset that would leave the company debt free to pursue its current objectives.

The agreement entails surrendering all its shares and convertible medium-term notes (CMTN) related to WeBe Digital Sdn Bhd back to TM.