Telekom Malaysia pays up for Excelcom

Malaysia''s dominant telecom company pays the price for gaining control of Indonesia''s number three mobile operator.
December 09, 2004

Telekom Malaysia yesterday (December 10) announced that it was paying $314 million for a 27.3% stake in PT Excelcomindo Pratama (Excelcom, XL). Telekom Malaysia also gets management and board control as well as an option to increase its stake in 2005 to over 50%.

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