No injunction against Axiata, Celcom amid Tune Talk divestment disputes

KUALA LUMPUR: Axiata Group Bhd said no interim relief and/or injunction has been ordered by the High Court against the company, Celcom Axiata Bhd or Celcom Mobile Sdn Bhd, following the dispute arising from the proposed divestment of 35 per cent stake in Tune Talk Sdn Bhd.

Axiata said it will make further announcements as and when there are material developments on the court matter.

The group said this in response to an article by an online news platform titled "Dispute between Axiata and Tune Talk shareholders on stake sale pending arbitration in Asian International Arbitration Centre (AIAC)”.

It was reported that shareholders, Padda Gurtaj Singh, East Pacific Capital Ltd and Tune Strategic Investments Ltd had filed an injunction to block the sale.

The stake in Tune Talk is held by Celcom Mobile, a wholly-owned unit of Celcom Axiata.

Axiata said it is aware that the claimants have commenced arbitration proceedings against Celcom and Celcom Mobile Sdn Bhd.

Celcom and Celcom Mobile have responded to the initial arbitration notice and the matter is now pending the next step before the AIAC. - Bernama