Tikona Could Be A Useful Addition For Axiata

Malaysia's Axiata Group is one of Asia Pacific's largest telecoms groups with a presence in multiple countries including Indonesia, Sri Lanka, Cambodia and Pakistan. The group failed in its attempt to increase its stake in India's IDEA Cellular in December 2011 but could be looking to tap further into the significant growth potential of India's mobile data industry by securing a stake in Tikona Digital Networks. Although Tikona has a much-prized broadband wireless access (BWA) licence, it lacks the scale and financial clout of key rivals. We do not expect Tikona to transform into a major player in India's wireless broadband market in the near future, but there are several favourable factors for the company that could be attractive to Axiata.

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