Star Telecom in stake sale

Star Telecom will sell a 7 per cent stake in Star Digitel, its joint venture with International Wireless Communications (IWC), to US-based Vanguard Cellular Operating for US$8.1 million.

Vanguard is the largest shareholder in IWC with 40 per cent. Star Digitel, the arm developing Star Telecom's cellular business in China, was previously 60 per cent owned by Star Telecom and 40 per cent by IWC.

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