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Axiata in stake talk with India's Tikona
by hlk Wed 18 Jan 2012, 08:08
Axiata Group Bhd, Malaysia's largest mobile-phone operator by market value, is in talks to buy a stake in India's Tikona Digital Networks Ltd, said three people with knowledge of the matter.
Axiata is holding discussions with Mumbai-based Tikona's owners -- Goldman Sachs Group Inc, Oak Investment Partners and Everstone Capital Advisors Ltd -- said two of the people, who declined to be identified because the talks are private. The three firms together control 71 per cent of Tikona, according to the Indian company.
A deal may value Tikona at about US$1 billion, two of the people said. Investing in Tikona would allow Axiata, which owns a stake in Indian mobile-phone carrier Idea Cellular Ltd, to tap rising demand for data services in the world's second-largest wireless market.
Tikona holds licenses to offer wireless broadband Internet services in regions including Gujarat, Himachal Pradesh and Rajasthan, according to the Department of Telecommunications. A deal may involve Tikona selling new shares to Axiata, one of the people said. -- Bloomberg
Axiata is holding discussions with Mumbai-based Tikona's owners -- Goldman Sachs Group Inc, Oak Investment Partners and Everstone Capital Advisors Ltd -- said two of the people, who declined to be identified because the talks are private. The three firms together control 71 per cent of Tikona, according to the Indian company.
A deal may value Tikona at about US$1 billion, two of the people said. Investing in Tikona would allow Axiata, which owns a stake in Indian mobile-phone carrier Idea Cellular Ltd, to tap rising demand for data services in the world's second-largest wireless market.
Tikona holds licenses to offer wireless broadband Internet services in regions including Gujarat, Himachal Pradesh and Rajasthan, according to the Department of Telecommunications. A deal may involve Tikona selling new shares to Axiata, one of the people said. -- Bloomberg
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