December 11, 2007 / 1:10 AM / 12 years ago

Telekom Malaysia shares up 4.5 percent on div plan

KUALA LUMPUR, Dec 11 (Reuters) - Shares in dominant phone firm Telekom Malaysia (TLMM.KL) opened 4.5 percent higher at 11.70 ringgit ($3.53) on Tuesday, after the company declared a special dividend of 65 Malaysian cents.

The payment, which would be worth more than the entire year’s anticipated regular payout, is part of the company’s plans to split into fixed-line and mobile units early next year.

Telekom wants to unlock value from its rapidly growing mobile business, which spans operations from Southeast Asia to the sub-continent.

The stock was suspended on Monday for the dividend announcement.

Reporting by Liau Y-Sing

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