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 one of its best quarterly results ever, led by strong revenue growth overseas and one-time gain from the disposal of a stake in a telecommunication company in Singapore, as well as other non-core ventures.
The group made a net profit of RM709mil in the three-month ended March 31 compared with a loss of RM147mil in the same period a year ago.
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