The planned acquisition of Cambodian mobile operator Excell by local rival Emaxx has collapsed.
Excell CTO Chandrakant Darji was quoted in the Thursday edition of the Phnom Penh Post that the deal, first reported in July last year, fell through in…
The planned acquisition of Cambodian mobile operator Excell by local rival Emaxx has collapsed.
Excell CTO Chandrakant Darji was quoted in the Thursday edition of the Phnom Penh Post that the deal, first reported in July last year, fell through in February already. He declined to comment on the reasons for this collapse.
Citing a source close to the matter, the paper wrote that Emaxx failed to fulfil one of the “major milestones” in the deal, which could have paved the way for more consolidation in the overcrowded Cambodian telecom market.
Both Excell and Emaxx could not be reached for comment.
News that Emaxx, controlled by Digital Star Media, was interested in buying GT-TELL’s Excell first emerged a year ago.
At the time, Digital Star Media COO Frank May was quoted saying that, through this acquisition, the company was looking to secure Excell’s 28 telecom towers, allowing it to be present in all of Cambodia’s 24 provinces by mid-2012.
The country is currently populated with eight mobile operators, and Excell is the smallest among them, according to the newspaper.
The Cambodian market saw the beginning of a consolidation trend in February last year after Smart Mobile and Star-Cell, respectively number five and number seven in the country, merged their operations.
