KUALA LUMPUR (March 7): TIME dotCom Bhd plans to acquire a 37% stake in Thai-listed fixed line telecommunications operator for THB1.47 billion or RM186.7 million, into which it intends to pump in at least another RM47 million on completion of the stake buy. SYMC shares settled unchanged for the day at THB11.90 on the Thai Exchange. According to TIME's stock exchange filing, the stake buy will be undertaken via its wholly-owned subsidiary, TIME dotCom International Sdn Bhd. On financing the planned buy, TIME said it is currently exploring the assumption of borrowings to fully or partly fund the proposed buy. TIME shares inched 0.12% or 1 sen higher to close at RM8.60 today, giving it a market capitalisation of RM4.97 billion.

Source: The Edge Markets March 07, 2017 12:02 UTC