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Axiata to Consider Appropriate Options to Enhance Shareholders’ Value in Response to KCL and SPH’s Announcements on Possible Transaction Involving M1

2018-09-25

Kuala Lumpur, 24 September 2018 – Axiata Group Bhd (“Axiata” or “the Group”) refers to the announcements made today by Keppel Corporation Ltd (KCL) and Singapore Press Holdings Ltd (SPH) to the Singapore Exchange on their joint consideration of a possible transaction involving M1 Limited (“M1").

Axiata had on 17 March 2017 and 18 July 2017 previously announced publicly that it was undertaking a strategic review of its stake in M1 jointly with KCL and SPH. Post the said strategic review, Axiata has deliberated with both companies where we made our position clear regarding any corporate action.

The announcements today by KCL and SPH, as we understand it, may reflect developments from the 2017 strategic review and post discussion, which now has resulted in Axiata not being an active participant in the new corporate exercise.

Axiata will consider all appropriate and viable options that will enhance our own shareholders’ value depending on the official proposal to be made by KCL and SPH.

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About Axiata
Axiata is one of the leading telecommunications groups in Asia with approximately 350 million customers and with a presence in 11 countries. In pursuit of its vision to be the New Generation Digital Champion by 2021, the Group has transformed itself from a holding entity with a portfolio of pure-play mobile assets into a Triple Core Strategy driven business with the focus on Digital Telco, Digital Businesses and Infrastructure.

Within ASEAN and South Asia, Axiata has controlling stakes in market-leading mobile and fixed operators in the region including ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and 'Ncell' in Nepal. The Group also holds strategic interests in ‘Idea’ in India and ‘M1’ in Singapore. Axiata is in the cusp of transforming its mobile operations into Digital Telcos through digitisation and convergence.

‘edotco’, the Group’s infrastructure company, operates in six countries to deliver telecommunications infrastructure services, amassing approximately 27,500 towers. Presently the 12th largest independent tower companies globally, it aims to be one of the top regional telecommunications tower companies and is committed to responsible and sustainable business operations.

Axiata Digital and Axiata Business Services are the digital businesses arms of the Group. Together, these businesses are focused on capturing the rapid growth in digital financial services (‘Boost’), digital advertising (‘ada’), enterprise solutions/IoT (‘Xpand’) and platform services (‘APIgate’) with user access to global markets.

As a committed and long-term investor, Axiata provides employment to 25,000 people within its operations. In line with its sustainability goals, the Group actively supports and drives young talent development; disaster response and recovery; as well as green initiatives. Axiata’s broader goal Advancing Asia pieces together the best in the region in terms of innovation, connectivity and talent.

Issued By:
Corporate Communications,
Axiata Group Berhad
Axiata Corporate Headquarters, Axiata Tower,
9 Jalan Stesen Sentral 5, Kuala Lumpur Sentral.
50470 Kuala Lumpur

For media enquiries, please contact:
Anuja Ravendran
Corporate Communications
Tel: +6012-2380581
Email: anuja@axiata.com