Axiata on the Buy Again?

Reuters reported that Axiata has expressed interest to buy the Sri Lankan and Cambodian assets of Luxembourg-based telecom operator Millicom worth at least US$500 million (RM1.75 billion).

Axiata, Malaysia's second-biggest mobile phone operator, is among a number of bidders that have expressed interest to buy the Asian assets of Millicom

According to sources, JPMorgan is advising Axiata on the Sri Lankan assets and Bank of America-Merrill Lynch on the Cambodian assets. Both the assets could be worth at least US$500 million, the sources said.

Axiata has declined comment on this. A spokeswoman for Axiata said the company would make an announcement if "any corporate action is made."

Millicom said last week it had appointed Goldman Sachs to advise it on a strategic review of its Asian business and several potential investors were eyeing the assets.

We will put our ears keenly on this ground for further development.