Asian mobile operator group Axiata will buy Latelz, which operates in Cambodia under the Smart Mobile brand, for around USD 155 million and merge the business with its Hello Axiata business. The merger is expected to be completed by the end of Q1 2013 and the merged entity will operate under the Smart Mobile brand. Upon completion Axiata will hold a 90 percent stake in the combined entity. Axiata says that after experiencing intense competition over the past three years with nine mobile players in a country with a population of approximately 15 million, the Cambodian market is ready for consolidation. Unique subscriber penetration in Cambodia is currently below 40 percent, and growth of around 10 percent is expected over the next three years.
