‘Size matters’ as Axiata guns for bigger share in key markets, says CEO
To ensure a return on investment, the telco giant is seeking to raise its market share in Indonesia to around 25%
Add BT as a preferred source
[KUALA LUMPUR] Axiata Group – one of the largest telcos in Asia (*see amendment note) – is set to grow its market share in Indonesia to at least 20 per cent following a series of mergers in the country over the past two years, its top executive said.
“Size does matter. If we couldn’t be No 1 or No 2, it would be best – necessary – to have a sizeable market share of around 20 to 25 per cent to ensure a return on investment,” chief executive and managing director Vivek Sood told The Business Times in an interview.
Axiata Group – listed on Bursa Malaysia with a market capitalisation of nearly RM24 billion (S$6.9 billion) – is one of the largest telcos in Asia, with operations in nine countries and serving over 160 million customers.
TRENDING NOW
Firm loses wrongful dismissal case despite following termination clause
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ
Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation
