Deutsche Telekom to sell six percent stake in Celcom to Telekom Malaysia
German telecommunications giant Deutsche Telekom said it would sell its six percent stake in Malaysian operator Celcom to Telekom Malaysia.
Deutsche Telekom said yesterday that the US$115 million dollars (RM437 million) it expects to earn from the sale would be used to reduce its debt, expected to hit 50 billion euros between now and the end of the year.
German telecommunications giant Deutsche Telekom said it would sell its six percent stake in Malaysian operator Celcom to Telekom Malaysia.
Deutsche Telekom said yesterday that the US$115 million dollars (RM437 million) it expects to earn from the sale would be used to reduce its debt, expected to hit 50 billion euros between now and the end of the year.
Offer made
Telekom Malaysia, which already owns 31 percent of Celcom, had launched an offer to acquire the remainder of the company, which is expected to be completed later this month.
Over the next 18 months, Telekom Malaysia wants to merge Celcom with its mobile phone subsidiary TM Cellular. - AFP
