Telenor Talks with Malaysia´s Government about Ownership of DiGi.com

Norway’s Telenor ASA is in talks with Malaysia’s government about raising its stake in local telecommunications firm DiGi.Com Bhd , Telenor’s Asia chief said in an interview with the Business Times newspaper published on November 11 2011.
Telenor used to own 61 percent of DiGi but sold a 10.2 percent stake to Time DotCom Bhd in 2007 for 1.61 billion ringgit ($510.9 million), to comply with the government’s foreign shareholding rule. Telenor now owns 49 percent of DiGi.
“In all the meetings with the government, we are asking: When will the telecommunications industry be liberalised or when will they take up the threshold for foreign ownership?” Telenor Asia chief executive officer Sigve Brekke said in the interview.
“We always urged the government to reconsider the ceiling for foreign ownership, and if that ever happens, we would then be considering if we should increase our stake,” said Brekke.

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