Axiata inks deal to create Indonesian number 2 operator

first_img Axiata Group cautious on earnings Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Tags AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 26 SEP 2013 Related Steve Costello Author Telenor, Axiata plot Malaysian merger Asian operator group Axiata inked a deal to acquire Indonesian operator Axis, a move that will lead to the creation of the second biggest operator in the market.Axiata has entered into a “conditional sale and purchase agreement” with current owner Saudi Telecom Company (STC) and its Teleglobal Investments arm.Axiata’s Indonesian unit, XL Axiata, will acquire 95 per cent of Axis, in a transaction which values Axis at $865 million on a cash-free and debt-free basis.The deal is subject to regulatory clearance, shareholder approval and “spectrum retention”.Previously, it was reported that there was a dispute between STC and its bankers over a $1.2 billion loan made in 2011, since when the operator has suffered from a downturn.Axiata said that “the purchase consideration will be utilised towards payment of a nominal value for Axis equity and redemption of Axis indebtedness”.Bloomberg said that Axiata is paying $100 cash for the share capital of Axis, with the rest of its payment going to clear debt.In the second quarter of 2013, STC recorded a loss of $188 million related to a revaluation of Axis, Reuters reports, with the full impact of the Indonesian venture on its results to be determined once the transaction is concluded.According to GSMA Intelligence figures for Q2 2013, XL Axiata is the third biggest operator in the market, with its 54.2 million connections putting it just behind Ooredoo’s Indosat (56.5 million connections) – but both lag dominant Telkomsel, which has 125.1 million connections.However, adding fifth-placed Axis’ 16.9 million connections to Axiata puts the combined unit into a clear second place.Axiata said the deal “consolidates the industry further and paves the way for more prudent, growth-focused expansion with a more efficient capex profile”.It will also provide XL with additional spectrum (subject to approval), leading to “significantly enhanced quality of service and network experience on both 2G and 3G” and “enhanced asset utilisation, particularly on XL’s towers and network equipment, with tangible reduction in capex and opex spends”.Dato’ Sri Jamaludin Ibrahim, group CEO of Axiata, said: “We are a long term investor and the acquisition is in line with our strategy of continued investment in every country we operate in and supporting in-market consolidation where it benefits all parties.”“We are confident we can successfully execute the integration as we did with Hello and Smart in Cambodia as well as Suntel and Dialog in Sri Lanka. Both acquisitions saw smooth and successful integration both strategically and financially,” he added. SoftBank buys into Axiata digital marketing unit Previous ArticleBlackBerry cancels results call, following $4.7B Fairfax dealNext ArticleNokia eyes tie-up with Alcatel-Lucent – reports Home Axiata inks deal to create Indonesian number 2 operator AxiataAxisFinancialSaudi Telecom CompanySTCXL Axiatalast_img read more

Learn more →

News / Cyber attack still haunting Maersk as it struggles to recapture volumes

first_img By Mike Wackett 13/07/2017 The shutdown of systems across its network threw Maersk’s quotation and rates system into chaos, but it said it was “now fully up to date on short-term quotations” and “looked forward to responding to all new rate enquiries”.It added it would “honour all rates communicated” and that it had “retroactively reflected those agreements for the shipments in our custody”.The carrier faces a massive task to regain confidence. Indeed, one UK shipper told The Loadstar last week he was reluctant to open the first email he received from Maersk following the Petya virus attack.And, unsurprisingly, several of the Danish carrier’s competitors have been quick to latch onto Maersk’s weakness – not least 2M partner MSC, which is understood to have enjoyed a surge in volumes over the past two weeks.One carrier source told The Loadstar it had been “besieged by IT” since Maersk’s cyber attack and had been warned not to open any email attachments if they were not 100% sure of the source.But it is not only exporters that have been hit hard by the enforced system outage at Maersk and its APM Terminals facilities, importers have suffered severe delays around the world obtaining deliveries against Maersk bills of lading. In response, Maersk Line said it would waive demurrage and detention charges incurred after the cyber attack.It said that, for most ports, this covered  27 June-9 July, but accepted that there could be local variations based on when containers were actually made available for import release.It is a welcome concession by Maersk, given that shippers were unable to pick up their boxes during this period, although the final cost to shippers is likely to be much higher than just the quantum of quay rent and container demurrage charges.And the final cost to Maersk? Estimates have been wide-ranging, but it is likely to have a huge negative impact on the carrier’s trading in July. It is “too early to predict” the cost said the company, but the cyber attack will cast a cloud over what should otherwise have been a very upbeat first-half interim report next month.“We have to ask ourselves some tough questions,” Maersk Line’s chief commercial officer, Vincent Clerc, told CNN this month. © Deanpicturescenter_img Maersk Line continues to struggle to regain its cargo volumes after the ransomware cyber attack two weeks ago.In its latest customer advisory Maersk acknowledges that shippers are still experiencing delays in response times and they “feel reluctant to return your full booking volumes with us”.The carrier said it was “diligently working through backlogs and manual processes to be able to serve you effectively again”, but was unable to give a specific date when this would happen.However, for containers shipped on Maersk vessels before or since the attack on 28 June, the carrier says it will be in a position to resume invoicing from today.last_img read more

Learn more →

ipl 2020: Brad hogg picks the teams which are capable of…

first_imgCSK will be difficult The Chennai Super Kings, led by three-time IPL champions MS Dhoni, will have a tough time this season. CSK will have to do well with Delhi Capitals to reach the play-offs in fourth place. The older column will be a setback for CSK. “If Rabada plays all the matches for Delhi Capitals, he is more likely to reach the top four,” Hogg said. This time Suresh Raina and Harbhajan Singh are not playing for CSK. While the absence of Harbhajan will not significantly affect CSK, the absence of Raina is sure to be reflected in the batting.Kolkata Knight RidersKolkata Knight Riders are likely to finish third. This time they have the best balanced team. There are people in KKR who can shine with bat and ball like Narine. Narine is a player who can be used as an opener, midfielder and finisher. The presence of Andre Russell also strengthens Kolkata. Hogg has previously played for KKR. KKR, led by Dinesh Karthik, is a great choice. The pace strength of Pat Cummins and Loki Ferguson is also with the team this time.RCB will reach the playoffsRoyal Challengers Bangalore will reach the play-offs in second place. Their coaching staff is excellent. That’s why I think the players can put out a great performance without pressure. And it will be a great season for them when Aaron Finch joins Virat Kohli. The RCB, which has the best players of all seasons, has yet to win the title. This time around, the RCB pace has strengthened with the addition of players like Schotten and Chris Morris. The backbone of the team is Kohli, Finch and De Villiers.Mumbai is at the helmHogg says defending champions Mumbai Indians will top the points table. They are the best in every way. Has a great batting line-up. Krunal Pandya, Kieron Pollard and Krunal Pandya are some of the big names in Mumbai. Mumbai have the best bowling line-up with spinners and pacers alike. Mumbai, led by Rohit Sharma, are aiming for their fifth title this season.last_img read more

Learn more →