Telenor cuts stake in Malaysia's DiGi

Norwegian telecoms group Telenor cut its stake in DiGi.COM to 49% from 57.5% to comply with an ownership requirement of the Malaysian Government, a Reuters report, quoting the company, said.

The Reuters report said in a book building exercise, Telenor sold 76.5 million shares to Malaysian investors for a total of about 2.6 billion Norwegian crowns ($). It sold the stake at 21.50 ringgits per DiGi share.

'DiGi will remain a consolidated company within the Telenor Group,' Telenor said in a statement.