Malaysian Firm Buys 78% in Pakistani Broadband Co.

TELEKOM Malaysia Bhd subsidiary TM International (L) Ltd has entered into a joint venture which will see the latter take a 78% stake in Multinet in a deal worth US$17.2mil. It will then inject a further US$11.7mil into Multinet, a provider of broadband and cable television services in Pakistan. In a statement to Bursa Malaysia, Telekom said: ‘Multinet currently has approximately 1,000 corporate DSL subscribers, which generated a revenue of approximately US$2mil in the last financial year.