That will reduce the family shareholding in the group to 10 per cent - and also spark speculation that Usaha Tegas
may want to launch a full takeover bid.
tribute show will take place at Elmsthorpe Hall in Station Road, Earl Shilton, on Friday, October 19.
Sdn Bhd, controlled by tycoon Ananda Krishnan, still maintains a majority share of 49%.
SLT's second-biggest 44.9% shareholder, Malaysia's Usaha Tegas
Sdn Bhd, does not have special provisions in its shareholder agreement to dilute the government's significant influence over SLT.
Officials from MEASAT and Usaha Tegas
, the parent company of MEASAT, said they had no knowledge of the talks.
The cash call comes as Malaysian investment firm Usaha Tegas
takes a 20 per cent stake in Johnston Press through a share subscription and the acquisition of a further 10 per cent of the company from the group's family trusts.
The town is hosting the second annual Tegas
Guitar Festival, organised by the Electric Guitar Appreciation Society, on bank holiday Monday, August 29.
Celestial Pictures, the Hong Kong-based company backed by Malaysian media group Usaha Tegas
, is also set to announce its first film slate at Cannes.
The sale of the interest in Maxis Communications was completed after an agreement was first struck several months ago with BT's partner in the business, Usaha Tegas
Krishnan can help out: Among the holdings of Usaha Tegas
, his vast conglom, are two satellites with pan-Asian reach, Malaysian satellite broadcaster Astro as well as Maxis, Malaysia's leading mobile telephone company.
This was followed by an announcement on Friday that it was selling its 33.33 per cent stake in Malaysian Maxis Communications Berhad to its partner Usaha Tegas
for pounds 350 million in cash.
The group is selling its stake in Maxis Communications Berhad to its partner Usaha Tegas
. It bought the stake for pounds 280 million three years ago.