Digital Star Media’s acquisition of mobile operator Excell has yet to be finalised despite expectations that the deal would go through in July, according to Digital Star Chief Operating Officer Frank May.
May told the Post yesterday that his company, which operates a fourth-generation WiMax service under its Emaxx brand, still plans to purchase Excell but is conducting due diligence.
“As with any company doing wise business, we are working through various levels of due diligence,” he said. “We’re in the process of document review and are waiting for the arrival of all documents.”
May said there is no clear timeline for the deal’s completion.
“It could take 10 days or a month,” he said. “We’re not set to any particular schedule other than getting due diligence...In due course of time, anything is possible.”
Excell chief executive officer Biioliddin Salakhiddin Uulu, reached yesterday by phone, declined to comment.
Excell is Cambodia’s smallest mobile operator as measured by subscriber numbers, with about 40,000 customers at the end of July, according to Ministry of Post and Telecommunications figures obtained by the Post via a third party.
Excell is also the only Cambodian telecom to employ CDMA2000 technology, which Digital Star’s May has claimed allows for faster 4G connections.
He told the Post in July that it was this technology that is the main reason behind the Excell purchase.
If the acquisition is finalised, Digital Star would get Excell’s 28 cell-phone towers, May said in July.
This acquisition, along with a number of tower-sharing agreements, would expand Digital Star’s reach to all 24 provinces, he said at the time.