Mint Wireless to sell a majority stake in its Malaysian subsidiary

Australia-based Mint Wireless has signed an agreement to sell a majority stake in its Malaysian subsidiary, J&C Pacific Sendirian Berhad. Based on the agreement, Alphine Lagoon, an existing shareholder of the subsidiary, will buy a 51 per cent stake for around RM 2 million. The share sale will allow Mint to focus on its core mobile payments business in Australia and the UK. J&C Pacific is involved in the prepaid airtime reload and airtime transfer business in Malaysia.