The MACC has launched an investigation into Telekom Malaysia Bhd's (TM) selling of its 10,000,000 shares in Menara Kuala Lumpur Sdn Bhd, the company that manages the iconic KL tower.

In a statement, the anti-graft agency said they are looking into whether there was any element of corruption in the move, which saw the shares transferred to a company called Hydroshoppe Sdn Bhd in October.

"MACC confirms that it is investigating an...