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M1 VGO seen to go through as Axiata unlikely to make counter bid: CGS-CIMB

PC Lee
PC Lee11/5/2018 03:48 PM GMT+08  • 2 min read
M1 VGO seen to go through as Axiata unlikely to make counter bid: CGS-CIMB
SINGAPORE (Nov 5): CGS-CIMB Securities is downgrading M1 to “hold” with an unchanged target price of $2.06 on expectations the Voluntary General Offer (VGO) will go through and that Axiata is unlikely to make a counter-bid at a much higher price.
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SINGAPORE (Nov 5): CGS-CIMB Securities is downgrading M1 to “hold” with an unchanged target price of $2.06 on expectations the Voluntary General Offer (VGO) will go through and that Axiata is unlikely to make a counter-bid at a much higher price.

As at 1.31pm, shares in M1 are trading 1 cent lower at $2.10.

“Other shareholders will accept the VGO, says Foong, as M1’s share price will likely drop if the VGO is called off,” says CGS-CIMB analyst Foong Choong Chen in a Nov 2 report.

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