[ JAKARTA: Malaysian conglomerate Axiata Group and Indonesian group PT Sinar Mas have sought permission from the Indonesian government to merge their telco units, the communications minister told Reuters on Wednesday. Their planned merging of Indonesian units, PT XL Axiata and PT Smartfren Telecom would further consolidate companies in the telecoms sector into just three … Read more
[ PETALING JAYA: Axiata Group Bhd is selling its Myanmar telecommunication tower business below its original cost of investment as it scouts for ways to slash its massive borrowings of almost RM25bil. Axiata, in which Khazanah Nasional Bhd and the Employees Provident Fund collectively hold over 50% in equity interest, announced that the tower business … Read more
[ KUALA LUMPUR: Following an earlier announcement to exit Myanmar, Axiata Group Bhd has announced a proposal to divest of its investments in the country for US$150mil cash (RM713.03mil). In a filing with Bursa Malaysia, the telco group said its sub-subsidiary edotco Investments (Labuan) Ltd has entered into a share purchase agreement (SPA) to dispose … Read more
[Axiata Group Bhd’s decision to exit some of its risky frontier market investments is a valuable lesson not only to corporate Malaysia, but also the government as the biggest shareholder of the telecommunication giant. Read full story Read original article here Denial of responsibility! Genx Newz is an automatic aggregator of the all world’s media. … Read more
