Another major Malaysian telecom company is entering
the Indian telecom market by acquiring stakes in
existing private telecom players in the Indian
market. Malaysia’s No. 1 phone company Telekom
Malaysia Bhd has announced their plans to buy 49
percent of India’s Spice Telecom Ltd.
It is their latest venture to expand their
presence in the Asian countries. Telecom Malaysia is
a government owned company and they would be paying
US$178.8 million for this stake in the India’s
seventh largest cellular phone company.
Spice Telecom provides mobile services to around
1.82 million subscribers in India’s states of Punjab
and Karnataka. The deal is expected to help the
Malaysian telecom company to tap India’s
fastgrowing market as well as enlarge its footprint
in South Asia. They have already made significant
investments in Bangladesh, Pakistan, and Sri Lanka.
Spice Telecom is also working on expanding their
network into other states such as Jammu and Kashmir,
Uttar Pradesh, Haryana, Himachal Pradesh, and
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