KUALA LUMPUR: Axiata Group Bhd’s 83.3 per cent-owned subsidiary, Dialog Axiata plc, has today acquired 37.37 million shares of Colombo Trust Finance plc (CTF) from Cargills Bank Ltd for RM29.49 million. In a filing to Bursa Malaysia, Axiata said the acquired shares represent 80.34 per cent of the voting rights in CTF. The acquisition will facilitate the expansion of the scope of operations of Dialog Group into the sphere of mainstream Digital Financial Services. Dialog has entered the sphere of financial services in 2012 when it was licensed by the Central Bank of Sri Lanka (CBSL) to operate the country’s first Mobile Payment Service eZ Cash. Now in its fifth year of operation, eZ Cash has over the years secured over 2.8 million mobile payment subscribers from across Etisalat Hutch and Dialog Mobile Networks.

Source: New Strait Times September 12, 2017 11:15 UTC