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Axiata plans buying stake India’s Tikona
18 January 2012
Malaysian mobile operator in talks to acquire stake in Indian internet provider and wifi operator Tikona
Read more:
Tikona
India
wireless broadband
private equity
Goldman Sachs
Everstone
Oak Investment
Malaysian operator Axiata is planning to acquire a stake in Indian internet service provider Tikona Digital Networks. Axiata is in talks with Tikona’s private equity owners, which include Goldman Sachs, Everstone Capital Advisors and Oak Investment Partners, for a deal that could be valued at approximately $1 billion, reported Bloomberg.
Global Telecoms Business will be publishing an interview with Tikona CEO Prakash Bajpai shortly.
The company operates licences for wireless broadband in several Indian states, including Rajasthan, Himachal Pradesh and Gujarat, and uses wifi technology to deliver consumer and business services. It has recently acquired HCL Infinet and intends to offer 4G services by April.
Axiata already holds a 19.97% stake in Indian mobile network carrier Idea and acquiring a stake in Tikona will help it capitalise on the increasing data services demand in the country. GTB
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