Takeover offer for Watta launched

Watta, according to its website, is principally involved in the servicing and repair of mobile telecommunication equipment products and property investment.

PETALING JAYA: The single largest shareholder and chief executive officer of Watta Holding Bhd has launched a conditional mandatory takeover offer for the company at 50 sen per offer share.

Datuk Lee Foo San, who is also the deputy chairman, triggered the mandatory takeover offer threshold of 33% after raising his stake in the little-known company to 45.59% yesterday.