Swiss Telecom PTT will acquire a 30% stake in Malaysia’s Mutiara Telecommunications Sdn Bhd for $300m cash. Mutiara will issue new shares in the company to Swiss Telecom, and Swiss Telecom will provide technical and operational assistance to Mutiara on its existing personal communications network service. Swiss Telecom will also help Mutiara launch trunk and international services in the near future. Mutiara, controlled by Berjaya Group Bhd’s Vincent Tan, is one of five telecommunications operators in the country; it said the $300m would be fully paid into the company to develop its personal communications and other value-added services. Swiss Telecom said it plans to use Mutiara’s facilities to develop a regional hub for its Asian international traffic.
