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Malaysia's Media Prima, NSTP request trade halt

Thu Oct 15, 2009 8:22am EDT

Stocks

   

KUALA LUMPUR, Oct 15 (Reuters) - Trading in shares of Malaysia's Media Prima (MPRM.KL), a free-to-air broadcasting monopoly, and its newspaper unit NSTP (NSTP.KL) will be halted on Friday pending an announcement, said the companies.

Media Prima will be making "a very material announcement of a corporate exercise involving Media Prima and NSTP," it said in a stock exchange filing on Thursday.

Media Prima owns 43.29 percent of NSTP.

Local media reports said Media Prima was looking to buy out the remaining of NSTP, the oldest newspaper publisher in the country.

Media Prima was last traded at 1.77 ringgit a share. The stock has gained more than half so far this year, outpacing a 42 percent gain in the benchmark stock index .KLSE.

NSTP shares were last traded at 2.46 ringgit. The newspaper company has more than doubled in price since the beginning of the year. (Reporting by Soo Ai Peng; Editing by David Holmes)



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