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Axiata Group's Q1 profit doubles on one-off gains from M1 divestment

2019-05-29 09:31:00| Telecompaper Headlines

(Telecompaper) Axiata's cash balance grew to MYR 6.8 billion in the first quarter of 2019, up from MYR 5.1 billion in 2018, following the M1 divestment which resulted in an estimated MYR 1.65 billion cash gain. Axiata agreed to sell its stake in Singapore operator M1 in the buy-out offer from shareholder Keppel. 

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