Telekom to spin off mobile phone ops

Telekom to spin off mobile phone ops.
KUALA LUMPUR: Telekom Malaysia Bhd. announced plans Friday to spin off its mobile phone operations to help boost performance. The company said in a statement that its Celcom (Malaysia) Bhd. unit will be absorbed by Telekom"s TM International Sdn. Bhd., which will then be listed on Malaysia"s stock exchange. TM International will hold all of Telekom"s cellular operations, which include international investments in Sri Lanka, Bangladesh, Indonesia, Pakistan, Cambodia, Singapore and India. Telekom will hold the group"s fixed-line, voice, data and broadband operations. It said the move improves organization focus and would provide its mobile and fixed-line entities with the opportunity to better tailor capital management initiatives. It expects to complete the plan by the second quarter of 2008. Latest business news from AP-Wire TM : [Stock Watch] [News] TM-CA 4 : [Stock Watch] For latest Bursa Malaysia indices, charts and other information click here Related Stories: TM decoupling ops? .