Star Telecom again boosts stake in phone operator

PUBLISHED : Wednesday, 25 February, 1998, 12:00am
UPDATED : Wednesday, 25 February, 1998, 12:00am

Star Telecom International has moved for the second time this month to boost its shareholding in the PCS mobile phone operator P-Plus. It is paying about $180 million in cash and shares for Telecom Finland's 28.49 per cent stake in the company. About $60 million of the deal will be in cash, and the rest through the issue of 40 million new shares to Telecom Finland.