Three possible parties eyeing for the acquisition of a controlling stake in Packet One Networks Sdn Bhd (P1). It is believed these parties are DiGi.Com Bhd, the YTL group and Telekom Malaysia Bhd (TM).
Industry sources have indicated that DiGi is the closest to clinching a deal with P1, with negotiations having started over a year ago.
However sources said that WiMAX operator YTL Communications Sdn Bhd(Yes4G) is also keen to buy a controlling stake in P1.
It is believed that the YTL group had recently sent a due diligence team to P1. They noted that from a technological perspective, YTL was the best fit for P1 as both companies operate on the same type of spectrum, that is, 4G-LTE (2.6GHz), which is time division-based, and WiMAX.
RHB Investment Bank Bhd said that Telekom Malaysia could also be eyeing a stake in P1. It indicated that TM was interested in acquiring a 30% stake in P1 for its spectrum.
In a statement to Bursa Malaysia on Tuesday, Green Packet said it has not received any offer to sell P1.
However, Green Packet said as part of the efforts to maximise shareholder returns, it would continuously pursue possibilities of collaborations and partnerships to complement the company’s business strategy.[Full Story]– TheStar