Spice sells stake to Telekom | india | Hindustan Times
  • Monday, Jun 25, 2018
  •   °C  
Today in New Delhi, India
Jun 25, 2018-Monday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Spice sells stake to Telekom

Telekom Malaysia has agreed to buy 49 per cent of Spice for $178.8 million.

india Updated: Mar 10, 2006 15:57 IST
None

Malaysia's dominant phone provider, Telekom Malaysia, has agreed to buy 49 per cent of India's privately owned Spice Communications Ltd for $178.8 million, the two companies said on Friday.

"India is a critical piece in our regional footprint," Telekom Chief Executive Abdul Wahid Omar told a joint news conference in Kuala Lumpur.

Telekom Malaysia is moving into the world's fastest-growing mobile phone market at a time when its home market is rapidly reaching saturation point.