BRIEF-Malaysia's Axiata upgraded by CIMB; shares gain - News

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BRIEF-Malaysia's Axiata upgraded by CIMB; shares gain

By: AFX | 05 Nov 2009 | 09:43 PM ET

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Nov 6 (Reuters) - Axiata Group Bhd: * Malaysia's Axiata shares rise 1.7 percent; CIMB Research raises stock to outperform from neutral * Axiata shares has gained 22.1 percent so far this year versus main stock index's 43 percent gain. * Axiata owns Celcom, Malaysia's second-largest mobile network operator by subscriber base. * CIMB said:"The stock is ripe for a re-rating due to very robust growth at Celcom, which we believe will surprise the market on the upside, driven by wireless broadband and subscribers." (For related news click) (Kuala Lumpur Newsroom; Bureau email: areuters@gmail.com; Bureau tel: 603 2333 8046) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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