Axiata open to future acquisitions

4 Dec 2013

Malaysian telecoms group Axiata is said to be open to acquisitions in those markets where it can consolidate, The Sun Daily reports, citing comments made by the company’s president and CEO Datuk Seri Jamaludin Ibrahim. ‘Generally we’re open to see how we can consolidate markets. We’ve done a few (acquisitions) in Sri Lanka, Cambodia and Indonesia. We’re looking at others, but we’ve not had any serious discussion with anyone yet. We’re restricting ourselves to Asean or South Asia because we want to do well within this region,’ the executive noted.

Meanwhile, Jamaludin also confirmed that Axiata could still consider venturing into Myanmar as part of a long-term plan, despite having failed to secure a mobile concession there in the state’s beauty contest auction which concluded in June 2013. ‘Maybe in the future there will be partnership with the existing two players,’ the executive said.

Malaysia, Axiata