China Mobile looking to grab stake in Axiata?

China Mobile Communications Corporation is said to have discussed the possibility of acquiring a minority stake in Malaysia-based telecoms group Axiata, according to Bloomberg. Citing unnamed sources, the report claims that China Mobile has sounded out Axiata over the possibility of buying a 20% stake in it, which would be valued at around USD3.7 billion based on the closing price of the Malaysian firm’s shares yesterday. However, with no agreement reached over such a stake sale, it has been suggested that Axiata and its largest shareholder – Khazanah Nasional Bhd – are not keen to divest such a large share. Further, while the price per share offered by China Mobile has not been disclosed, it has been claimed that the indicated offer price was considered too low.