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Axiata Expects KCL and SPH to Reflect M1’s Future Value and Incorporate Acceptable Control Premium in Their Proposed Transaction

2018-09-26

Kuala Lumpur, 26 September 2018 – Axiata Group Bhd (“Axiata” or “the Company”) refers to the announcements made by Keppel Corporation Ltd (KCL) and Singapore Press Holdings Ltd (SPH) to the Singapore Exchange on September 24, 2018 on a possible transaction involving their shares in M1 Limited (“M1") and our media announcement dated September 24, 2018.

Following from our earlier statement dated as per above, the Company is currently reviewing its position in view of a possible transaction to be further announced by KCL and SPH on its M1 shares.

The Company is already in discussion with a Financial Institution to act as its advisor to review various options available to Axiata with the sole objective that the Company continues to vigorously protect and enhance shareholders’ value of both Axiata and M1, the latter via its Board representation. The Financial Institution will also advise the Company once KCL and SPH officially announce their proposed transaction.

We believe that any offer from any party should not only reflect and consider the accurate future value of M1, but also incorporate acceptable control premium based on market norms and precedent transactions of similar nature.

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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