Malaysian Telco Axiata may soon exit Vodafone Idea as stock continues its slide
Valuation of co’s 1.05% stake in debt-ridden telco has plummeted to around ₹115 cr now.
Axiata Group Berhad is close to completely exiting Vodafone Idea, with the valuation of the Malaysian telco’s stake in the struggling carrier seeing a sharp erosion over the past 18 months, a person familiar with the matter said. Axiata’s earlier 8.15% stake at the time of the Vodafone-Idea merger was valued at roughly ₹3,500 crore, with the merged entity valued at around ₹43,200 crore. Vodafone Idea’s market capitalisation is now down at ₹10,977 crore, and in this time, Axiata’s stake has got diluted to 1.05%, and is worth a paltry ₹115 crore.