Telekom Malaysia (TM) has bought a 49 per cent stake in Spice Communications for $178.9 million. According to company officials, it does not plan to take its stake beyond 49 per cent. The Malaysian entity will help Spice in restructuring $215 million of its existing debt. Along with its partner, Mcorp, TM plans to grow Spice into a market leader in the geographies it operates in, and eventually attain a pan-Indian presence. TM has a global mobile subscriber base of over 20 million.
