Celcom is buying 49% of Tune Talk or 2.625 million shares.
Tune Talk‘s majority shareholder is Fernandes (Tune Ventures)-40% , Datuk Kamarudin Meranun- 30%, Dennis Melka- 25% and Tune Strategic Investment- 5%.
Why would Celcom make such a move when it is bigger than Tune Talk and owns a large telecom infrastructure while Tune Talk has not even launch a service? Does Tune Talk has something interesting that draws the attention Celcom?
This deal however is weird to me since (as for now) I don’t find any reason for Celcom to invest in Tune Talk, plus there seems to be some internal problems in Tune Money and Tune Hotels might have some other problems too.
While the current economy is not stable and people lossing their jobs(even in Malaysia), I was wondering whether the MVNOs will be delaying their plans, such as this one.
Personally, I think Celcom is investing at the wrong time and the wrong market. Those RM2 million could have been put into good use.
Wish you luck Celcom!!
Detailed report:
- Celcom to subscribe to 49% of Tune Talk
- TMI-TuneTalk deal no threat to other MVNOs
