Telekom Malaysia Bhd. (4863.KU) has recently
sold its entire stake in Telekom Networks Malawi for $24.5
million, a decade after entering the African market.
The Malaysian company sold its 60% stake in the
phone company to Econet Wireless Global (ECONET.ZB), which
operates in the region as well as in the U.K and New Zealand.
Telekom Networks Malawi was a joint venture between the
Malaysian company and Telekom Networks Malawi Ltd. and has a GSM
service license valid till 2014. Telekom Malaysia now owns phone
companies in Sri Lanka, Bangladesh, Pakistan, Indonesia,
Singapore, Thailand and Cambodia.
– Dow Jones