It’s Official

TELEKOM Malaysia Bhd has confirmed that it intends to list its Sri Lankan subsidiary, MTN Networks (Pte) Ltd or Dialog GSM, on the Colombo Stock Exchange. TELEKOM Malaysia Bhd has confirmed that it intends to list its Sri Lankan subsidiary, MTN Networks (Pte) Ltd or Dialog GSM, on the Colombo Stock Exchange. In a statement yesterday, Telekom said it was exploring the possibility of selling shares of its wholly-owned subsidiary, MTN Networks, to the public.

“Telekom also wishes to clarify that MTN Networks is the largest mobile telecommunications service provider on the island and has a 55 per cent market share of the Sri Lankan mobile phone market with 1.4 million subscribers,” it said.

Telekom was responding to a news report last Saturday. MTN Networks is wholly-owned by TM International Sdn Bhd, the vehicle overseeing and managing the overseas ventures of Telekom.

“Apart from Sri Lanka, TM International has operations and financial interests in Bangladesh, Pakistan, Thailand, Cambodia, Indonesia, Malawi, Guinea and Ghana,” it said. – Business Times