<div class=newsTextDataWrapInner><p>KUALA LUMPUR:&nbsp;Berjaya Corp Bhd (BCorp), which is controlled by tycoon Tan Sri Vincent Tan, has upped its stake in&nbsp;REDtone International Bhd to 20.05% from 12.39%, at 70 sen per share,&nbsp; against yesterday’s closing price of 71.5 sen.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia yesterday, BCorp said its wholly-owned subsidiary&nbsp;Juara Sejati Sdn Bhd had acquired REDtone securities for RM29.15 million cash.</p></div>

<div class=newsTextDataWrapInner><p>The securities bought included 36.69 million ordinary shares, 1.9 million 10-year irredeemable convertible unsecured loan stocks (ICULS) and two million warrants.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The shares were priced at 70 sen, while the ICULS and warrants were priced at 27 sen and 43 sen, respectively.</p></div>

<div class=newsTextDataWrapInner><p>According to the statement, the acquisition was undertaken through direct business transactions.</p></div>

<div class=newsTextDataWrapInner><p>With the latest purchases, BCorp will control 62.93% of REDtone’s ICULS, plus 13.57% of the company’s warrants.</p></div>

<div class=newsTextDataWrapInner><p>BCorp remains the second largest shareholder after&nbsp;Indah Pusaka Sdn Bhd with a 30.2% shareholding. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>On Tuesday, REDtone was awarded a RM88.57 million contract by&nbsp;the Malaysian Communications and Multimedia Commission to build, operate and maintain radio access network infrastructure in rural areas of Sarawak and Johor.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily, </em>on December 12, 2014.</p></div>


KUALA LUMPUR: Berjaya Corp Bhd (BCorp), which is controlled by tycoon Tan Sri Vincent Tan, has upped its stake in REDtone International Bhd to 20.05% from 12.39%, at 70 sen per share,  against yesterday’s closing price of 71.5 sen.

In a filing with Bursa Malaysia yesterda...

BCorp raises stake in REDtone to 20.05%

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