PETALING JAYA: Axiata Group Bhd
’s earnings quality is set to decline following the completion of the proposed merger between the Malaysian operations of Axiata under Celcom and Telenor’s controlled Digi.com Bhd.
S&P Global Ratings noted Axiata’s recent spate of acquisitions will push its debt to earnings before interest, taxes, depreciation and amortisation (Ebitda) to 2.7 times and 2.8 times in 2023 from 2.2 times in 2021.
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