Axiata, which operates in nine countries in South-East Asia and South Asia, has since received an informal offer from Nigeria’s IHS Towers for a stake in its telecoms tower firm edotco Group Sdn Bhd, three people with direct knowledge of the matter said.
KUALA LUMPUR: Under pressure to deliver cash to shareholders after a merger with Norway’s Telenor collapsed, Axiata Group Bhd
has changed tack: It is now in talks to offload stakes in units and will no longer entertain a group-level deal, sources told Reuters.
The strategy’s success is crucial for the telecoms firm – majority-owned by sovereign wealth fund Khazanah Nasional Bhd and other state-linked funds – as it faces margin-destroying competition across South-East Asia, huge investment in fifth-generation (5G) networks and cash-hungry investors.
Limited time offer:
Just RM5 per month.
