Telenor S Right To Reconnect In Malaysia


This time, it might just work. Telenor ASA and Kuala Lumpur-based Axiata Group are back at the negotiating table
Joining forces in South and Southeast Asia still makes sense for both carriers. Options including a mooted minority investment from Norway’s US$27 billion telecoms heavyweight could be enough to get them started, with sales and spinoffs to follow
Talks for a potential deal resumed just four months after the parties scrapped discussions to create a combined entity with some 300 million customers in the region, Bloomberg News reported last week, citing people familiar with the matter
This time they may start small, with Telenor buying part of the nearly 37% stake held by Axiata’s largest shareholder, sovereign wealth fund Khazanah Nasional
A partial deal isn’t the solution either carrier hoped for. It won’t bring any of the anticipated US$5 billion in cost synergies from the previous structure, or much-needed scale. But it might just be a necessary detour
Last time, politics proved to be the undoing. Under the all-share combinations laid out in May, Telenor would have held 56.5% of the combined entity. With most of the overlap in Malaysia and significant cuts planned, local politicians fretted over jobs
Telenor wasn’t paying a control premium either, some grumbled. Worse, Norway had months earlier banned imports of non-sustainable palm oil, hurting Southeast Asia’s exporters
Officials in Indonesia, a bigger market for Axiata than Malaysia in the third quarter, didn’t warm to the idea of government-controlled Telenor getting a foothold through the company
None of the financial pressures that brought the two together have gone away
Revenue is flatlining in Telenor’s home market, which it dominates, and in its Swedish fixed and mobile telecom operations. Growth is also stagnating in its Asian mobile businesses, which make up half the group’s revenue, especially in Malaysia and Thailand
Elsewhere, shrinking profit in Pakistan weighed on third-quarter earnings
Axiata, meanwhile, needs to invest in 5G technology and in its ability to cater for booming data and video-streaming demand
Moreover, Prime Minister Dr Mahathir Mohamad’s government has promised to reduce the role of the state in local business. Incumbent Telekom Malaysia, also part-owned by Khazanah, has been deemed strategic. Axiata hasn’t
The question then is, how to get the deal done
For Telenor to buy a minority holding in Axiata, which has a market value of about US$9.5 billion, might just be a doable, if unorthodox, step to gain clout in the region
Assuming it takes a 20% to 30% stake, Telenor would be tying up US$2 billion to US$3 billion of cash, presumably at a manageable annual funding cost. That’s a reasonable bet on an attractive future option, not least given Axiata trades at a slight discount, in terms of enterprise value to Ebitda, to peers like Malaysian tycoon T. Ananda Krishnan’s Maxis Communications Bhd
Telenor would be making a public commitment to the Malaysian government too, putting cash on the table as opposed to its stock swap proposal the last time. Such a deal would keep at bay rival bidders eyeing up Axiata’s component parts, arguably worth more than the whole
The heavy role of state-linked government entities in Axiata should help eventual steps up, by simplifying the path to control. A slower pace might help get reluctant Indonesian officials onside, or exclude the business
Even a less bullish scenario could still see Axiata hiving off parts of its business into ventures with Telenor – say, its towers business, Edotco
The downside, of course, is that such partnerships often fall apart
Malaysia’s government is entering an uncertain period, with 94-year-old Mahathir reluctantly preparing to hand over power to a successor. If it all goes wrong, Telenor would become a forced seller of a significant stake in a state shareholder-heavy Malaysian entity
Ideally, Telenor wouldn’t proceed without, for example, an in-principle regulatory approval for it to eventually merge its wireless carrier, Digi, with Axiata’s Celcom
Telenor can’t afford to stand still. Axiata offers a risky but salutary remedy
Clara Ferreira Marques and Nisha Gopalan are Bloomberg columnists. - FMT

Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2020/01/telenors-right-to-reconnect-in-malaysia.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MalaysiansMustKnowTheTruth+%28Malaysians+

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Adakah Kak Wan Akan Menjadi Pm Pertama Wanita Malaysia

Adakah Kak Wan Akan Menjadi Pm Pertama Wanita Malaysia

papar berkaitan - pada 20/1/2020 - jumlah : 311 hits
Miqdad ZakariaSelepas kak wan mengangkat sumpah sebagai Timbalan Perdana Menteri pada 10 mei 2018 Ana sempat bertemu dengan seseorang yang mahir dalam membaca ramuan politik tanah air Beliau ada menyentuh beberapa perkara termasuklah tajuk ...
Fortune Feast Makan Besar Tahun Baru Cina Di Tony Roma S Malaysia

Fortune Feast Makan Besar Tahun Baru Cina Di Tony Roma S Malaysia

papar berkaitan - pada 20/1/2020 - jumlah : 591 hits
Tak lama lagi kita bakal menyambut perayaan Tahun Baru Cina Sudah menjadi perkara wajib bagi masyarakat cina untuk melaksanakan Tradisi Makan Besar sehari sebelum Tahun Baru Cina Tradisi makan besar sebenarnya melambangkan keutuhan sesebuah...
Badminton Malaysia Dan Indonesia Masters Malaysia Belum Mempunyai Wakil Di Akhir

Badminton Malaysia Dan Indonesia Masters Malaysia Belum Mempunyai Wakil Di Akhir

papar berkaitan - pada 21/1/2020 - jumlah : 232 hits
Nampaknya episod tiadanya wakil di peringkat akhir kejohanan badminton Malaysia Masters berterusan ke Indonesia Masters Tatkala pemain Indonesia mengorak langkah di laman sendiri dengan mempunyai 3 juara skuad negara masih tercari cari rent...
Senarai Kegagalan Pakatan Harapan Selepas 20 Bulan Memerintah Malaysia

Senarai Kegagalan Pakatan Harapan Selepas 20 Bulan Memerintah Malaysia

papar berkaitan - pada 20/1/2020 - jumlah : 614 hits
20 bulan Pakatan Harapan memerintah Malaysia dan dalam tempoh ini terbukti Pakatan Harapan telah gagal dengan teruk dalam pelbagai perkara sama ada untuk kepentingan negara mahu pun rakyat Antaranya Kegagalan ekonomi Kegagalan politik Kegag...
Jual Beli Sawit Malaysia Kata Ada Meeting India Kata Tiada Meeting

Jual Beli Sawit Malaysia Kata Ada Meeting India Kata Tiada Meeting

papar berkaitan - pada 20/1/2020 - jumlah : 346 hits
India s trade minister will not meet with his Malaysian counterpart in Davos next week because of his tight schedule an Indian trade ministry official said on Sunday as a spat simmers between the top buyer of palm oil and its biggest suppli...
Turki Mempelawa Malaysia Untuk Menyertai Program Pembangunan Pesawat Tempur Tf X Dan H Rjet

Turki Mempelawa Malaysia Untuk Menyertai Program Pembangunan Pesawat Tempur Tf X Dan H Rjet

papar berkaitan - pada 20/1/2020 - jumlah : 640 hits
Sejak merdeka Malaysia membeli senjata yang dikeluarkan oleh negara negara barat Oleh sebab itu pembelian tertakluk kepada kebenaran yang diberikan dan kerap kali sistem senjata yang dijual bukanlah versi yang terkini Turki ialah negara yan...
Tiger Wong Ditengok Tamu Jauh Si Cantik Neelofa Artis Papan Atas Malaysia

Tiger Wong Ditengok Tamu Jauh Si Cantik Neelofa Artis Papan Atas Malaysia

papar berkaitan - pada 20/1/2020 - jumlah : 855 hits
Ucapan selamat tak henti hentinya di dapatkan oleh pasangan Baim dan Paula pasca Paula melahirkan anak pertamanya Banyak teman dari kalangan selebriti juga hadir menjenguk bayi laki laki yang diberi nama Kiano itu Termasuk salah satu aktris...
Jadi Tumpuan Pelancong Malaysia Kini Papan Tanda Di Korea Turut Guna Bahasa Melayu

Jadi Tumpuan Pelancong Malaysia Kini Papan Tanda Di Korea Turut Guna Bahasa Melayu

papar berkaitan - pada 20/1/2020 - jumlah : 413 hits
Korea merupakan tempat percutian idaman bagi setiap orang untuk melancong ke sana Hal ini mungkin kerana keindahan serta keunikan yang terdapat di negara tersebut membuatkan ramai orang yang tertarik untuk berkunjung ke sana Mana tidaknya s...
Budak Tiga Tahun Dari Malaysia Iq Tinggi Paling Muda Sertai Mensa Uk

Budak Tiga Tahun Dari Malaysia Iq Tinggi Paling Muda Sertai Mensa Uk

papar berkaitan - pada 21/1/2020 - jumlah : 517 hits
Muhammad Haryz Nadzim Mohd Hilmy 3 memiliki kepintaran luar biasa Foto ihsan Facebook aniraasyikinKUALA LUMPUR 20 Jan Seorang kanak kanak lelaki Malaysia berusia tiga tahun menjadi peserta termuda diterima masuk ke Mensa kumpulan warga IQ t...
Menteri Besar Pahang Kalau Abang Belon Nak Berniaga Di Kuantan Dia Boleh Cuba Buat Permohonan

Ibu Terjun Ke Laut Bersama 2 Anak Di Sabah Anak Lelaki 5 Tahun Tenggelam Anak Perempuan 6 Tahun Masih Hilang

Benteng Melayu Terakhir Dengan Menara Kl Sejak Bila Menara Kl Mahu Bertukar P

Monoloque Rindu Dendam Hari Raya Chord

Zafrul As Bam President Filling Big Shoes Or A Risky Gamble

Hiburan Mangsa Terjejas Akibat Kebakaran Di Putra Height Akan Terima Bantuan Rm2500 Hingga Rm5000 Pmx

What We Know So Far About The Putra Heights Inferno

Berdentum Gegaran Disangka Pesawat Terhempas Mangsa Kebakaran


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Raja Muda Selangor Titah Mangsa Kebakaran Ditempat Di Lokasi Lebih Selesa

Common For Gas Pipelines To Pass Through Residential Areas Says Ex Engineer

Cidb Retracts Statement On Putra Heights Blast Findings

48 Years Of Tenacious Struggle Aliran Refuses To Surrender Hope

Joker123th 100

Dior188