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Rumours surround Astro trading halt

Rose Major ©RapidTVNews | 16-03-2010

Malaysia’s market is reportedly abuzz yet again that Astro All Asia Networks may be taken private, following a suspension of trading in the company’s shares.

A statement from Astro late March 15 said that the company had requested the suspension “pending an announcement of a corporate proprosal involving the shareholders of the Company”.

Reuters quotes “market talk” that major shareholders may want to spin off Astro’s loss-making holding in Indian DTH operator Sun Direct.

Astro's two main shareholders are privately-held Usaha Tegas, controlled by Malaysian tycoon Ananda Krishnan, and Malaysian state investment agency Khazanah Nasional. In 2007, Krishnan took Astro’s sister company Maxis Communications private. Maxis has since been relisted on the Bursa Malaysia.

© Rapid TV News 2010

 

Astro All Asia Networks-Astro TV-Malaysia TV

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