The sale of mobile broadband service provider Packet One Networks (Malaysia) Sdn Bhd (P1) is close to being a done deal. The likely buyer is said to be DiGi.Com Bhd which is expected to pay no less than RM1 bil.
Billion-ringgit offer at GPacket's feet
This price tag is much higher than the speculated selling price of a low of RM700 mil. It is learnt that the ball is now in Green Packet’s court.
DiGi.Com emerged as the likely party to acquire P1 after earlier reports that several telecommunication companies were interested in Green Packet’s core asset.
The deal could also see Green Packet’s South Korean partner exiting the mobile broadband service provider. Green Packet owns 55% of P1 while South Korea’s SK Telecom has 28%.
“The deal is on the table and price will be the deciding factor. So far, it appears that Green Packet is not willing to let go of P1 at a price that values the company at significantly lower than RM1.5 bil,” a source familiar with the matter says.
“So far, a decision has yet to be made. The board is to meet soon and discuss the matter.”
Stock: [GPACKET]: GREEN PACKET BHD
2013-10-04 00:25 | Report Abuse
The sale of mobile broadband service provider Packet One Networks (Malaysia) Sdn Bhd (P1) is close to being a done deal. The likely buyer is said to be DiGi.Com Bhd which is expected to pay no less than RM1 bil.
Billion-ringgit offer at GPacket's feet
This price tag is much higher than the speculated selling price of a low of RM700 mil. It is learnt that the ball is now in Green Packet’s court.
DiGi.Com emerged as the likely party to acquire P1 after earlier reports that several telecommunication companies were interested in Green Packet’s core asset.
The deal could also see Green Packet’s South Korean partner exiting the mobile broadband service provider. Green Packet owns 55% of P1 while South Korea’s SK Telecom has 28%.
“The deal is on the table and price will be the deciding factor. So far, it appears that Green Packet is not willing to let go of P1 at a price that values the company at significantly lower than RM1.5 bil,” a source familiar with the matter says.
“So far, a decision has yet to be made. The board is to meet soon and discuss the matter.”