Malaysia's Axiata Mulls Further Acquisitions in Asia Region

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Malaysia based Axiata Group says that it is open to further acquisitions in the region following the recent approval of the merger it is Indonesian network with a smaller rival.

Indonesia's XL recently secured approval to buy Axis Telecom, and expects that the merged networks will contribute around 19 percent to the group revenues. That's a rise of 1 percent over the current contribution.

Axiata's CEO, Jamaludin Ibrahim noted though that the main reason for the aquisition was for the radio spectrum assets.

He also said that the group was looking at acquisitions mostly in the country where they can consolidate the industry.

"We are open to see how we can consolidate the market like what we have done in Sri Lanka, Cambodia and Indonesia.

"Obviously we are looking at others," he said, but added that there are no serious talks taking place at the moment.

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Tags: axiata  Malaysia 

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