Time dotCom (TdC), a Malaysian fibre-optic capacity provider, has closed the acquisitions of three local telecoms company for a total of approximately US$103m.
The company first announced intentions to buy the three telcos in November 2010.
TdC has…
Time dotCom (TdC), a Malaysian fibre-optic capacity provider, has closed the acquisitions of three local telecoms company for a total of approximately US$103m.
The company first announced intentions to buy the three telcos in November 2010.
TdC has now made payment of MR119m (US$37.9m) for the Aims Group, a local network data centre, as well as MR102m (US$32.5m) for Global Transit Communications, a wholesale internet service and backhaul provider, and MR101m (US$32.2m) for Global Transit Limited.
The acquisitions have been settled via the issuance of 66 million TdC shares at MR3.55 (US$1.13) each and cash payments of MR88m (US$28m).
CIMB Investment Bank was hired as financial adviser on these transactions.
With these deals, TdC is looking to become a regional telco player. In a statement, at the end of last year, it said: “This will see Time moving up the telco value chain, giving it access and the capability to serve a multi-billion dollar market comprising the growing Indo-China, ASEAN and North Asian market where more than half of the world’s population resides and Internet demand is increasing.”
