Wednesday, December 24, 2008

Celcom to invest in Tune Talk

Celcom (Malaysia) Bhd, wholly-owned by TM International Bhd, will invest over RM2.6 million on Tune Talk.

Celcom also has the option to increase its stake to 16 per cent within three years of commercial launch or when Tune Talk has over 1.5 million customers, which ever comes first.

With the higher stakes in Tune, Celcom is able to increase board representation to 4 from 2 of the
7 board seats.

Both companies have been in talks for over a year.

Currently, Celcom also has MVNO arrangement with XOX and Merchantrade. However, it does not own stakes in those MVNOs.



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