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Proposed Acquisition By TM International Sdn Bhd ("TM International"), A Wholly-Owned Subsidiary Of Telekom Malaysia Berhad ("TM"), As Part of A Consortium With Singapore Technologies Telemedia Pte Ltd ("ST Telemedia"), Of 47.7% Of The Enlarged Equity Interest In Idea Cellular Limited ("Idea")

13 June 2005

Type

 Announcement
Subject PROPOSED ACQUISITION BY TM INTERNATIONAL SDN BHD ("TM INTERNATIONAL"), A WHOLLY-OWNED SUBSIDIARY OF TELEKOM MALAYSIA BERHAD ("TM"), AS PART OF A CONSORTIUM WITH SINGAPORE TECHNOLOGIES TELEMEDIA PTE LTD ("ST TELEMEDIA"), OF 47.7% OF THE ENLARGED EQUITY INTEREST IN IDEA CELLULAR LIMITED ("IDEA")

Contents :

We refer to the announcement on 13 December 2004.


TM wishes to announce that the proposed acquisition by TM International, a wholly-owned subsidiary of TM, as part of a consortium with ST Telemedia (the “Consortium”), of 47.7% of the enlarged equity interest in IDEA has lapsed in accordance with the terms of the transaction documents.

The proposed transaction has lapsed as approvals from the Department of Telecommunications and the Foreign Investment Promotion Board of India required for the proposed acquisition were not obtained by 11 June 2005, being the latest date specified in the transaction documents.

TM is currently reviewing all its available options in respect of its investment strategy in India and the region.

This announcement is dated 13 June 2005.

Announcement Info

Company Name TELEKOM MALAYSIA BERHAD
Stock Name TELEKOM
Date Announced 13 Jun 2005
Category General Announcement
Reference No TM-050610-61899