Shakeout in Malaysian mobile market

Malaysia's dominant fixed-line telephone operator Telekom Malaysia today said it has acquired a 13 percent stake in Technology Resources Industries (TRI). In a statement to the Kuala Lumpur Stock Exchange, Telekom said it will pay $4.6 million for TRI, the holding company of the country's No. 2 cellular operator Celcom. The move signals the beginning of a consolidation in the Malaysian mobile phone sector, which analysts believe can only support three operators instead of the current five.

CNETAsia's Irene Tham reported from Singapore.

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