Skip to content
Subscriber Only

China Mobile Said to Have Held Talks on Buying Axiata Stake

China Mobile Ltd. has held talks about purchasing a minority stake in Axiata Group Bhd., Malaysia’s largest wireless carrier by market value, people with knowledge of the matter said.

The Beijing-based company asked to buy about 20 percent of Axiata, a stake that would be valued at more than $3.7 billion based on yesterday’s closing price, said one of the people, asking not to be named as the information is private. No agreement was reached, as Axiata and its largest shareholder Khazanah Nasional Bhd. are unwilling to sell that much stock and consider the indicated offer price too low, they said.