Dialog Axiata: no plans to scale back mobile business

12 Oct 2016

Dialog Axiata Group President and CEO Jamaludin Ibrahim has said that his company has no plans to downsize its Sri Lankan operation and, in fact, will look to increase investments there, bullishly stating that as far as he is concerned the cellco is there for the long term. Ibrahim’s statement comes in the wake of recent rumours that parent group Malaysia’s Axiata may be considering moves to divest all or part of the asset as part of a wider review of its Asian portfolio which comprises Celcom in Malaysia, XL Axiata (Indonesia), Dialog in Sri Lanka, (Robi) Bangladesh, Smart (Cambodia) and Ncell in Nepal, as well as strategic interests in Idea (India) and Singapore’s M1. The president and CEO says that if Axiata does decide to scale down its presence and sell a stake, the money raised would be reinvested in Sri Lanka in another venture. ‘It will be the same story in Bangladesh and Cambodia and we have no plans in downsizing our operations in any of the eight countries [where] we operate. There were talks but they are only rumours. The company invests around USD600 million to USD700 million each year on regional expansion,’ he said.

Sri Lanka, Axiata, Celcom Axiata, Dialog Axiata, Robi Axiata, Smart Axiata, XL Axiata