Softbank Corp invests $60 million in Axiata's ADA unit for 23% stake – sources

© Reuters. FILE PHOTO: SoftBank Corp’s logo is pictured at a news conference in Tokyo, Japan, February 4, 2021. REUTERS/Kim Kyung-Hoon

By Liz Lee

KUALA LUMPUR (Reuters) – Japan’s SoftBank Corp will invest $60 million for a 23% stake in the digital analytics and artificial intelligence arm of Malaysian telecoms firm Axiata Group Bhd, said two sources familiar with the matter.

The acquisition values the subsidiary, ADA, at about $260 million, the sources said, declining to be named as the announcement is not yet public.

A spokeswoman from Axiata and a spokesman from SoftBank declined to comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


READ  Trump considers delisting Chinese firms from U.S. stock markets - source


Please enter your comment!
Please enter your name here