Time dot Com - the ultimate rent seeker

This was feedback to the theedgedaily.com report of Digi's offer of issuing 27.5 million shares or so for Timedotcom's 3G spectrum.

Time dot com seems like nothing but a rent seeking company. Its mobile business had to be rescued by Maxis, now its non-existent 3G business which they acquired for RM50 million (have they even paid the licence fees?) is flipped for RM650 million, whilst not meeting a single milestone set by MCMC.

Sigh, at least Digi was smart enough not to acquire the whole company, otherwise they would have to contend with how to get rid of deadwood management and a huge -writedown of non-existent assets (read non-lighted, maybe even non-existent fibre, supposedly in the ground).