Axiata open to offers for M1 stake (updated)

Kenanga Research said in a report yesterday Axiata

KUALA LUMPUR: Axiata Group Bhd is open to considering any offer for its stake in Singapore wireless operator M1 Ltd, but said that any bid should incorporate “acceptable control premium.”

Shares in Axiata surged 4.2% higher on Wednesday after Bloomberg reported that Singapore Press Holdings Ltd (SPH) and a unit of Keppel Corp Ltd (KCL) are planning a general offer for the shares they don’t already own in M1.