Phnom Penh, 13 December 2012 - Axiata Group Berhad (Axiata), one of Asia’s largest telecommunications companies, today announced the strategic merger of Hello Axiata Company Limited (“Hello”) and Latelz Company Limited (“Latelz”), which operates under the Smart Mobile brand name.
The merger will create the 2nd largest mobile telecommunications company in Cambodia with five million subscribers.
Hello Axiata Chief Executive Officer Simon Perkins said the time was right for consolidation in the mobile telecommunications market in Cambodia.
“Currently there are nine players in the market and we believe through consolidations it will come down to three to five operators. The time is right for us to consolidate and we at Smart Mobile and Hello are proud to be leading the way in Cambodia.”
Perkins said the merger would make it possible for the combined entity to enjoy better economies of scale, while eliminating duplication of costs. It will also facilitate synergies and the sharing of best practices between Hello Axiata and Smart Mobile.
“We are confident that the merger will put us on a stronger footing and it will allow us to grow from strength to strength,” said Perkins.
Latelz’s Chief Executive Officer Thomas Hundt said the combined entity would be able to offer more innovative and affordable mobile voice and mobile data products and services to its five million customers. Smart Mobile brings to this deal an efficient operation, a highly competent work force, a strong brand presence and a sizeable asset base and spectrum. Hello, on the other hand, has to offer a loyal customer base and the strength and scale of the Axiata Group.
“We are excited with the prospects this enlarged within-network community can offer our customers. This will include, amongst others, an enhanced level of customer service and one of the biggest mobile networks of Cambodia in terms of coverage and capacity. We will also have one of the most extensive sales and distribution channels in Cambodia,” he said.
“We expect the merger to be finalised latest by the end of first quarter 2013. Until then, it will be business as usual at both Hello and Smart Mobile without disruptions to the services that our customers currently enjoy.” Hundt explained.
source: www.smart.com.kh