KUALA LUMPUR (Nov 7): Axiata Group Bhd’s wholly-owned subsidiary, edotco Group Sdn Bhd (edotco Group), has exercised a call option to increase its effective holdings in edotco Myanmar Ltd to 87.5% from 75%. The additional 12.5% stake will cost Axiata US$35 million (RM147.4 million), to be settled by cash. “The increase in valuation simply reflects an increase in the EBITDA (earnings before interest, tax, depreciation and amortisation) of edotco Myanmar. If Axiata fully exercised the call option, it would take full control of edotco Singapore and edotco Myanmar. Note, that the put and call option agreement will also be terminated once Axiata completes the acquisition of the 12.5% stake in edotco Singapore.

Source: The Edge Markets November 07, 2016 14:31 UTC