China Mobile eyes 20% stake in Axiata

China Mobile, the world’s biggest phone company by users, has been seeking overseas acquisitions after its cash rose to US$69bil by the end of March - Reuters Photo.

HONG KONG: China Mobile Ltd has held talks about purchasing a minority stake in Axiata Group Bhd, Malaysia’s largest wireless carrier by market value, people with knowledge of the matter said.

The Beijing-based company asked to buy about 20% of Axiata, a stake that would be valued at more than US$3.7bil (RM11.77bil) based on Tuesday’s closing price, said one of the people, asking not to be named as the information is private.