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China Mobile looking to grab stake in Axiata?

6 Aug 2014

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.

Malaysia, Axiata, China Mobile Communications Group

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