Malaysia's DiGi plans deal involving TIME dotCom

KUALA LUMPUR, Nov 12 (Reuters) Malaysia's smallest mobile phone firm, DiGi , plans to make a deal involving broadband telecommunications firm TIME dotCom Bhd , DiGi said on Monday after halting trade in its shares.

''The company intends to make a material announcement in relation to a corporate exercise involving DiGi and TIME dotCom Bhd...,'' it said in a brief statement.

Shares in DiGi and TIME dotCom were halted from trade earlier on Monday, pending an announcement from DiGi.

DiGi has been widely rumoured to be interested in buying TIME dotCom to gain access to its 3G broadband-wireless licence.

State-controlled TIME dotCom won one of two 3G licences auctioned by the government last year. DiGi failed in that auction to secure a licence. It also failed in another spectrum auction in March to secure a licence to run WIMAX services.

DiGi is controlled by Norway's Telenor .

REUTERS SLD RK1303