Telekom Malaysia, south-east Asia’s second-largest telecoms group, said it would keep control of its wireless business in any stake sale, dimming the appeal for potential suitors including Orascom Telecom.

“We must be able to actually control its operations,” Abdul Wahid Omar, Telekom Malaysia chief executive, said on Wednesday after reporting record full-year profit. “Should any decision be made to bring in a partner it will not be a majority, it would be a minority stake.”