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    AXIATA   MYL6888OO001

AXIATA GROUP BERHAD

(AXIATA)
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Telenor still on lookout for deals after failed Axiata M&A - CEO

10/23/2019 | 05:01am EST
Telenor's logo is seen in central Belgrade

OSLO (Reuters) - Norwegian telecoms firm Telenor said it is still interested in potential mergers and acquisitions following the failed deal between its Asian business and Malaysia's Axiata Group.

"We will be looking at value-creating opportunities," Chief Executive Sigve Brekke told a conference call on Wednesday. He declined to elaborate on what those opportunities could be.

Telenor and Axiata in September called off their proposed deal to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia, blaming "complexities" in the project.

The Norwegian firm recently completed a takeover of Finnish telecoms operator DNA and on Tuesday announced the planned merger of its Canal Digital TV distribution business with Sweden's Nordic Entertainment Group AB.

"We are value driven at anything we do on mergers and acquisitions ... We were value driven in DNA, value driven in Axiata and we will be value driven in anything else we do," Brekke said.

Earlier on Wednesday, Telenor reported third-quarter profits in line with analysts' forecasts and reiterated its full-year outlook. The company said it will present an updated strategy in late January 2020.

Telenor's shares were down 0.9% after the results at 0849 GMT, underperforming a 0.3% drop in the Oslo benchmark index.

(Reporting by Terje Solsvik, editing by Nerijus Adomaitis and Susan Fenton)


ę Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -0.08% 36.99 End-of-day quote.0.00%
AXIATA GROUP BERHAD -2.01% 3.9 End-of-day quote.4.28%
DNA OYJ 0.00%End-of-day quote.-0.10%
NORDIC ENTERTAINMENT GROUP AB (PUBL) 1.22% 448.6 Delayed Quote.-3.36%
NORWAY OSLO BORS BENCHMARK(TRG) -0.59% 1181.27 Real-time Quote.22.47%
TELENOR ASA -2.94% 133.85 Real-time Quote.-5.48%
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11/25Axiata Group Berhad Reports Earnings Results for the Third Quarter and Nine Months Ende..
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11/19Telenor and CP Group discuss $7.5 billion Thailand telecom merger
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11/11Malaysia's state 5G agency says it has not begun commercial talks with telcos
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11/10No takers for Malaysia's 5G plan as major telcos balk over pricing, transparency
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11/10Exclusive-No takers for Malaysia's 5G plan as major telcos balk over pricing, transpare..
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10/29Axiata Group Appoints Thomas Hundt as Group Chief Strategy and Technology Officer
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10/26Axiata Announces Appointment of Thomas Hundt as Group Chief Strategy & Technology Offic..
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Analyst Recommendations on AXIATA GROUP BERHAD
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Financials
Sales 2021 25 327 M 6 030 M 6 030 M
Net income 2021 1 173 M 279 M 279 M
Net Debt 2021 16 066 M 3 825 M 3 825 M
P/E ratio 2021 30,2x
Yield 2021 2,46%
Capitalization 35 782 M 8 501 M 8 520 M
EV / Sales 2021 2,05x
EV / Sales 2022 1,92x
Nbr of Employees 12 976
Free-Float 63,6%
Chart AXIATA GROUP BERHAD
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Technical analysis trends AXIATA GROUP BERHAD
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Last Close Price 3,90 MYR
Average target price 4,50 MYR
Spread / Average Target 15,3%
EPS Revisions
Managers and Directors
Mohammad Izzaddin bin Idris President, Group CEO, MD & Executive Director
Vivek Sood Group Chief Financial Officer
Ghazzali Abdul Khalid Non-Executive Chairman
Nirmal Anthony Rodrigo Group Chief Information Officer
Thomas Hundt Chief Technology & Strategy Officer
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