Axiata sells Samart Corp stake for $34.8m

Staff writer
telecomasia.net
Malaysia-based Axiata has sold its18.9% stake in the parent company of Thai mobile operator Samart i-Mobile for $34.8 million.
 
Samart Corporation shareholders Charoenrath Vilailuck and Watchai Vilailuck bought back the 18.9% stake, which Axiata has held since 1997.
 
The deal increases the Vilailuck family’s stake in Samart Corp to 53.12%.
 
Axiata president and group CEO Datuk Seri Jamaludin Ibrahim said the sale “reinforces our commitment to focus on our primary business of mobile communications”, according to the Bernama new agency.
 
Axiata also said the deal is “not expected to have any material financial impact” on its consolidated earnings for 2010, the report said.
 
Axiata still holds a 24.4% stake in Samart subsidiary Samart I-Mobile, which it purchased in 2006.

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