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.
KUALA LUMPUR: Axiata Group Bhd
posted net losses of RM1.66bil the fourth quarter ended Dec 31, 2018 and its biggest losses ever of RM5.03bil in FY18 due to depreciation, impairments, higher operating costs.
The telecommunication company on Friday said depreciation, impairments and amortisation totalled RM3.25bil in Q4 and RM7.64bil in FY18. This was in sharp contrast with the net profit of RM24.72mil in Q4 of FY17 and RM909.48mil for FY17.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
