DiGi gets go ahead for transfer of TDC’s 3G spectrum
KUALA LUMPUR: DiGi.Com Bhd (DiGi) has received Malaysian Communications and Multimedia Commission (MCMC) approval for the proposed transfer of Time dotCom Bhd's (TDC) 3G spectrum to DiGi.
The company told Bursa Malaysia yesterday the approval was subject to payment by TDC's wholly owned subsidiary, TT dotCom Sdn Bhd, for the penalty imposed due to non-compliance of its detailed business plan.
It was also subject to MCMC's acceptance of DiGi's RM50mil irrevocable bank guarantee for the balance duration of the spectrum assignment period, it added.
In a statement yesterday, chief executive officer Morten Lundal said: “We welcome the approval and look forward to proceeding with our business plan for mobile broadband once all other approvals are obtained.”
In a separate filing with Bursa yesterday, DiGi said it had received an extension of time to June 30 from the Energy, Water and Communications Ministry to comply with the equity conditions of its licences.
It said the extension also applied to the deadline for Telenor Asia Pte Ltd to reduce its equity interest in DiGi to 49%.
URL: http://biz.thestar.com.my/news/story.asp?file=/2008/3/7/business/20569104&sec=business
Wednesday, April 09, 2008
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