Great Eastern acquires 22% stake in Axiata's digital arm Boost for $70m

FILE PHOTO - A security officer guards in front of the Axiata headquarters building in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said

Singapore-based insurer Great Eastern will pay $70 million for a 22% stake in Boost, the Malaysian fintech owned by the Axiata Group.

The deal, announced on Thursday and subject to regulatory approval, comes as the Malaysian telecommunications giant seeks to monetize its e-wallet payment gateway.

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