REDtone International Bhd (REDtone) unit, REDtone Technology Sdn Bhd, has sold 65 per cent of its equity in REDtone Mobile Sdn Bhd (REDtone Mobile) to Teh Beng Hock and Tee Yew Yaw, reports Bernama.
REDtone Mobile is a MVNO(Mobile Virtual Network Operator) powered by Celcom Axiata, launched its mobile service in July 2009 targeting the small and medium-sized enterprises(SME) and SoHo.
Teh and Tee are shareholders of Elepoint Sdn Bhd, the largest Celcom re-seller for the corporate segment in Malaysia.
Chief Executive Officer Lau Bik Soon said new shareholders for REDtone Mobile were necessary to sharpen the company’s focus and competitive advantage to make its MVNO services more appealing.
Back in November, Celcom CEO Dato’ Sri Mohammed Shazally bin Ramli told MalaysianWireless that REDtone is restructuring its MVNO business. He said that among the Celcom MVNOs, REDtone & XOX are revising their mobile offerings while Tune Talk & Merchantrade are doing pretty well.
More details soon.