Asian telco making a play?
In an interesting Sens announcement from MTN it discloses that M1 Limited has acquired a 10.01% stake in MTN. M1 is a Singapore-based telco that in itself is very small, with only some 2m subscribers. But M1’s parent company is Axiata, which through its various subsidiaries has over 260m subscribers in Asia. Is this a roundabout way of Axiata making a play for MTN? It would be a monster tie-up with over half a billion users across the emerging African and Middle East markets and Asia. It seems far-fetched. Why go via M1 when it likely doesn’t have the money, but then why the 10.01% stake?