Analysts positive on Axiata’s plan to unlock edotco’s value

Axiata, which has interests in 10 countries across Asia, says it is within the required foreign ownership levels.

PETALING JAYA: Axiata Group Bhd’s plan to divest a minority stake in its tower outfit, edotco Group Sdn Bhd, through a private placement is a welcomed move, as the exercise would enable the telecommunications giant to unlock the value of its wholly owned subsidiary.

According to analysts, the cash-raising exercise will also work positively in reducing Axiata’s debt levels. Shares of Axiata rose six sen to close at RM4.56 yesterday.