Axiata to take hit for future punch

Analysts had said Axiata would have to accept the offer unless it was able to find a partner to fund a counterbid since M1 was a non-core asset. The 28.67% stake comprises 265.41 million shares.

PETALING JAYA: Over a RM1bil additional write-off can be expected to be added to Axiata Group Bhd’s 2018 full-year financial results, which is likely to see the regional company making a total technical impairment of about RM5bil.

This is a one-off write-off that Axiata needs to make to clear its path ahead, although the underlying performance of its six core units remains strong, said an industry executive.