Japan's Mitsui makes minority investment in Malaysia's Axiata Digital

REUTERS/Samsul Said

Japanese conglomerate Mitsui & Co Ltd has made a strategic minority investment in Malaysia’s Axiata Digital, the digital services arm of telecommunications giant Axiata Group, according to a statement on Friday.

Axiata Digital, which was started in 2013 to help the telco business undergo digital transformation via investments in new age business, said Mitsui’s investment establishes a pre-money enterprise value of $500 million for its core digital businesses.

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