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Intel to announce Green Packet stake buy 19 May

Intel Corp. will likely announce on May 19 that it is buying a minority stake in Malaysian high-speed wireless broadband operator Green Packet Bhd.

Intel's entry will help Green Packet - which will soon launch Malaysia's first WiMAX broadband service - break into other markets in the region, the person said.

Details of the deal aren't immediately available.

Intel said in a note earlier that it will announce an "investment in a listed Malaysian telecommunications company" at 0400 GMT on May 19, on the sidelines of the World Congress On Information Technology 2008.

The investment - if it goes through - will come just weeks after Green Packet Managing Director C.C. Puan said in a May 2 interview with Dow Jones Newswires that the company was in talks to secure a strategic foreign partner.

Green Packet shares have been on the rise since then, gaining as much as 23% and outperforming a 2% rise in the benchmark Kuala Lumpur Composite Index.

The shares were last traded at MYR2.77.

Puan had also said that Green Packet expects to roll out its 2.3Ghz WiMAX broadband service in June, targeting revenue of MYR1.0 billion from the business by 2012.

While 20% of the Malaysian population have access to personal computers, broadband penetration in the country remains low at just 4%.

WiMAX - short for Worldwide Interoperability for Microwave Access - expands broadband wireless access over distances of up to 50 kilometers and reduces the cost of implementing broadband.

Источник: Total Telecom

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