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Axiata Group Berhad (6888.KL)
- Reuters SG
Malaysian telco Axiata to sell Myanmar telco tower business for $150 mln
Malaysian telco conglomerate Axiata Group will dispose of its entire holding in Edotco Myanmar Ltd for $150 million, the company said late on Thursday, in a move signalling its exit from the telco tower business in Myanmar. Axiata said edotco Investments (Labuan) Ltd, a wholly owned subsidiary of its telco tower arm Edotco Group, had agreed to sell its entire 87.5% stake in Edotco Investments Singapore Pte Ltd, the sole shareholder of Edotco Myanmar. "Decision to exit Myanmar was made due to deteriorating macroeconomics and operating environments in Myanmar," Axiata said.
- The Edge Singapore
Digilife Technologies not renewing distribution agreement with Indonesian telco XL Axiata
The strategic decision for non-renewal will result in a reduction in overall revenue and profitability for the FY2024.
- Reuters
Axiata Group exits Nepal operations with Ncell Axiata stake sale
Axiata will sell Ncell, its mobile service unit in Nepal, for a fixed consideration of $50 million. The terms of the deal also include a conditional consideration of a share of distributions based on the future business performance and net distributions declared by Ncell until 2029.
