Axiata’s Cambodian unit expands through M&A

Axiata Group Bhd is set to strengthen its foothold in Cambodia through a merger between Hello Axiata Company Ltd and Latelz Company Ltd, which it acquires for a consideration of US$155mil (RM473mil). In a statement, Axiata announced that its Cambodian arm had entered into a sales and purchase agreement to acquire shares of Latelz, owned by Timeturns Holdings Ltd based in Cyprus. … Axiata’s share price climbed 2.19% or 0.14 to RM6.54 with 8.09 million shares done during midday.