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Saudi Telecom expands into Southeast Asia

Saudi Arabia's state-owned Saudi Telecom announced Tuesday that it would invest $3.05 billion in Malaysian billionaire T. Ananda Krishnan's holding company, Binariang GSM. The deal will result in Saudi Telecom receiving a 25% stake in Maxis Communications, which Krishnan recently took private, and a 51% stake in Natrindo Telepon Seluler. Forbes (06/27)