By Abhishek Vishnoi
Malaysia’s biggest wireless carrier received an offer from Singapore Press Holdings Ltd and Keppel Corp to buy out its stake in M1 Ltd.
Axiata is in talks to team up with PE firms and other companies as it considers options to launch its own offer for a bigger stake in M1.
The company helmed by billionaire Anil Ambani is negotiating with two investors who are conducting due diligence.
The unit, edotco, recently cancelled a $940-million deal to acquire 13,000 towers from a unit of Pakistan Mobile Communications as regulators failed to provide all approvals for the transaction to go through.
The transaction was terminated due to the non-fulfillment of certain conditions.
Idea Cellular and Vodafone have cleared the last regulatory hurdle to merge their operations in India, opening the way for the creation of a new market leader in the fiercely competitive market.
Airtel has, however, approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) seeking a stay on the DoT demand.
The new mobile business, slated for debut next year, will tie together the company’s disparate portfolio of about 80 different services.
Reliance Jio will use the proceeds to expand its operations in the GigaFiber segment.
For Xiaomi, the real battle revolves around growing services income — its main source of profit. While it’s made advances in China with its own video, music and finance apps, those businesses barely exist elsewhere.