KUALA LUMPUR (May 11): Japan’s SoftBank Corp is investing RM250 million (US$60 million) for a 23.07% stake in Axiata Group Bhd’s digital marketing subsidiary ADA. The price tag values ADA at RM1.07 billion (US$260 million).
Axiata president and group chief executive officer (CEO) Datuk Izzadin Idris said ADA expects to benefit from the unlocking of significant global synergistic opportunities.
SoftBank is both a financial and strategic investor, given that it has interests in digital companies globally, including LINE, Cinarra and Incudata, he added.
More to come
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