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Axiata analysing all potential impact on Idea-Vodafone India merger

KUALA LUMPUR – Axiata Group Bhd is analysing all potential impact on it arising from the proposed merger of Idea Cellular Ltd with Vodafone India.

In a statement today, Axiata said, the group’s assessment of its position as a minority shareholder of Idea would be an extension of its ongoing evaluation and analysis of its investment portfolio in its entirety.

The statement refers to the announcement by its 19.8 per cent associate company, Idea, to the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd today.

Idea said its board board of directors has approved the amalgamation scheme of Vodafone India Ltd and its wholly-owned unit, Vodafone Mobile Services Ltd with Idea.

Axiata said its next course of action, if any, would be based on the outcome of a comprehensive analysis based on the principles above which will maximise the benefits to the shareholders of Axiata.

“Axiata has been a significant and strategic *shareholder in Idea for the last nine years.

“As always, Axiata would ensure that the position of its shareholders are best addressed through among others, any industry consolidation or development,” it said.

At the same time, Axiata would also ensure that its investment position in Idea was maximised in terms of value and liquidity, it said.- BERNAMA


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