28 February 2003
|
Type |
Announcement |
| Subject | TELEKOM MALAYSIA BERHAD (“TM” OR THE “COMPANY”) PROPOSED DISPOSAL OF 100% EQUITY INTEREST IN TM CELLULAR SDN BHD (“TM CELLULAR”) TO CELCOM (MALAYSIA) BERHAD (“CELCOM”) FOR A TOTAL CONSIDERATION OF RM1,684 MILLION TO BE SATISFIED BY THE ISSUANCE OF 635,471,698 NEW ORDINARY SHARES OF RM1.00 EACH IN CELCOM AT RM2.65 PER SHARE (“PROPOSED DISPOSAL”) MANDATORY GENERAL OFFER BY TM, TELEKOM ENTERPRISE SDN BHD (“TESB”) AND THE PERSONS ACTING IN CONCERT (“PAC”) WITH THEM FOR THE REMAINING ORDINARY SHARES OF RM1.00 EACH IN CELCOM (“CELCOM SHARES”) NOT HELD BY TM, TESB AND THE PAC WITH THEM AFTER THE PROPOSED DISPOSAL AT RM2.75 PER SHARE (“MGO”) |
On behalf of TM, Commerce International Merchant Bankers Berhad (“CIMB”) is pleased to announce that the Foreign Investment Committee (“FIC”) has, vide its letter dated 28 February 2003, approved the acquisition by TM, TESB and the PAC with them of the remaining Celcom Shares not held by TM, TESB and the PAC with them after the Proposed Disposal.
The approval of the FIC is not subject to any conditions.
| Company Name | TELEKOM MALAYSIA BERHAD |
| Stock Name | TELEKOM |
| Date Announced | 28 Feb 2003 |
| Category | General Announcement |
| Reference No | MM-030228-60195 |