Telekom Fails To Sell Ghana Stake

Telekom Malaysia (4863) shares may face mild selling pressure on failure to sell 30% stake in Ghana Telecommunications. Telekom has been trying to sell stake back to Ghana government for between $90-100 million, after its management contract was not renewed last year. Telekom also seeking return of $50 million deposited as half payment for additional 15% stake in Ghana Telecom and $7.3 million in consultancy fees. Telekom seeking arbitration and will announce details "at an appropriate time." Shares ended up 1.3% at MYR7.90. (VGB)