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Xiaomi picks up stake in TCL; Malaysia's edotco buys 325 towers in Cambodia

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Xiaomi picks up stake in TCL; Malaysia's edotco buys 325 towers in Cambodia

S&P Global Market Intelligence provides a wrap-up of Asia-Pacific media and communications deal announcements, completions and updates from Dec. 27, 2018, to Jan. 8.

Top news

* Xiaomi Corp. bought a 0.48% stake in Chinese home appliance manufacturer TCL Corp., following a cooperation agreement signed between the two companies on Dec. 29, 2018, for building smart products and electronic devices, Bloomberg News reported. According to a TCL statement filed to the Shenzhen Stock Exchange, Xiaomi purchased 65.2 million TCL shares from the secondary market.

* The Cambodian subsidiary of Malaysia-based telco infrastructure company edotco Group Sdn. Bhd. has acquired 325 towers from South East Asia Telecom (Cambodia) Co. Ltd. Phillip Wong, chief regional officer for growth markets at edotco, said the deal reinforces the company's commitment to invest in Cambodia as a key market.

Technology

* Kim Jung-ju, founder of NEXON Co. Ltd., is set to sell a 98.64% stake in NXC Corp., the game developer's holding company owned by himself, his wife and his private company WiseKids, Yonhap News Agency reports. The value of the deal is reportedly estimated at about 10 trillion won, considering NXC's shares in Nexon and other businesses that it owns.

* NEC Corp. agreed to buy KMD Holding ApS for about 8 billion Danish kroner from private equity investor Advent International Corp. KMD Holding is the holding company of Danish information technology company KMD A/S.

Media

* SK Telecom Co. Ltd. revealed plans to merge its mobile media service platform Oksusu with over-the-top service POOQ, which is jointly operated by Munhwa Broadcasting Corp., Seoul Broadcasting System and Korean Broadcasting System, Financial News reports. Under the plan, Oksusu will be merged with POOQ service operator Content Alliance Platform Inc. to create a new corporation.

* Malaysia's Media Prima Digital Sdn. Bhd. acquired a 25% share of Monster Scape Sdn. Bhd., operator of Chinese social news portal TanTanNews, New Straits Times reports. The acquisition will enable Rev Asia Holdings Sdn. Bhd., a subsidiary of Media Prima, to be the exclusive advertising reselling partner for Monster Scape.

Communications

* The Indian government refused to provide immunity to Reliance Jio Infocomm Ltd. from dues and liabilities arising from its spectrum and mobile tower deal with Reliance Communications Ltd., The Times of India reports. The two companies also extended the validity of the agreements for the sale of towers, fiber, media convergence nodes and spectrum of RCom and its affiliates to June 28.

* Vietnam-based telco giant Viettel is in talks to acquire stakes in undisclosed Malaysian and Indonesian telecom operators, Reuters reports.

* SK Telecom completed its acquisition of information security company SK Infosec Co. Ltd., Digital Daily reports.

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