Axiata refers to the recent news reports linking Axiata and its wholly-owned subsidiary, Celcom to a global settlement involving TSDTR.
Celcom is involved in various legal suits that relate to TSDTR as announced previously through separate Bursa announcements and updated in Axiata’s quarterly reports.
We wish to clarify that as of the date of this announcement, neither Celcom nor Axiata has received any letter from the Government of Malaysia which has been reported in the media as having been sent to Government Link Companies.
Celcom is always open to explore an amicable out of court settlement in any dispute it is involved in, provided it is fully satisfied that a settlement and the terms thereof are in the best interest of the company and its stakeholders.
The Board of Directors of Celcom and Axiata will deliberate on any settlement proposal made upon receipt of a firm proposal on the same.
Axiata will make further announcements of any material development on this matter from time to time.
This announcement is dated 16 August 2011.
