Latest Breaking News On - Innovation network corp - Page 5 : comparemela.com
Japan's Renesas to raise $2 bln via new shares to fund Dialog purchase
financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
A Strawberry With a $10 Price Tag Helps One Tsunami-Hit Town to Recover
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
(Feb 23): Axiata Group Bhd, Malaysia’s biggest wireless carrier by revenue, has postponed talks to sell a partial stake in its tower unit edotco Group Sdn Bhd after a military coup in Myanmar triggered concerns over heightened investment risks, according to people familiar with the matter.
The Kuala Lumpur-listed telecommunication company was in discussions with potential investors to sell a partial stake in a special purpose vehicle that holds its shares in edotco for more than US$500 million, the people said. The deal has stalled as the Myanmar coup, which has triggered weeks of protests and killed two demonstrators, cast a shadow over edotco’s operations in the country, the people said.
EDOTCO Group Sdn Bhd the infrastructure arm of Axiata Group Bhd could welcome two more shareholders over the next three to six months, as the group scales up its war chest for further acquisitions so that it will be able to more than double its size in preparation for an IPO that could take place within three years.
“We are not ruling out an IPO. It will be three to five years from now, but it is a lot easier to do some of the things we want without being public-listed,” says Axiata president and group CEO Tan Sri Jamaludin Ibrahim, adding that the incoming funds from the placement “would help bridge [edotco] to the point of IPO”.