Dialog Sri Lanka 30-pct sell down not fnalized: Axiata

ECONOMYNEXT – Axiata group said it was looking to ‘optimise its balance sheet’, following a report that the Malyasian telecom group was planning to raise 700 million dollars from sales of stock in foreign units including a 30-percent sell-down in Sri Lanka’s Dialog Axiata.

Bloomberg Newswires, citing un-named sources said Axiata was planning to sell a 30 percent stakes in Dialog Axiata and a Cambodian unit, and 11 percent of a unit in Indonesia, amid a rise in debt.

Axiata said in a statement that it "continuously reviews various strategic options to enhance shareholders’ value.

"In this regard, since the middle of last year, Axiata has been exploring options to further optimise its balance sheet and group structure, potentially including, but not limited to, the portfolio rebalancing and review of shareholding across subsidiaries.

"In the event any such transactions are entered into, Axiata will make all necessary disclosures at the appropriate time. Until such time, any such reports are speculative."

Axiata owns more than 80 percent of Dialog, which is the market leader in mobiles in Sri Lanka.

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