Intel to announce Malaysian investment on Monday

KUALA LUMPUR (MarketWatch) -- Intel Corp. (INTC: Intel Corporation INTC 24.97, +1.13, +4.7%) will likely announce on May 19 that it is buying a minority stake in Malaysian high-speed wireless broadband operator Green Packet Bhd (0082.KU), a person familiar with the deal said Friday.

Intel's entry will help Green Packet - which will soon launch Malaysia's first WiMAX broadband service - break into other markets in the region, the person said.

Details of the deal aren't immediately available.

Intel said in a note earlier that it will announce an "investment in a listed Malaysian telecommunications company" at 0400 GMT on May 19, on the sidelines of the World Congress On Information Technology 2008.
INTC 24.97, +1.13, +4.7%) will likely announce on May 19 that it is buying a minority stake in Malaysian high-speed wireless broadband operator Green Packet Bhd (0082.KU), a person familiar with the deal said Friday.
Intel's entry will help Green Packet - which will soon launch Malaysia's first WiMAX broadband service - break into other markets in the region, the person said.

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