The Straits Times
The parties are working towards finalising a deal to combine Celcom Networks and Digi.com.PHOTO: AFP
Updated31 min ago
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Negotiations over a potential merger of the Malaysian mobile operations of Axiata and Telenor are reportedly at an advanced stage.
According to Bloomberg, the parties are close to reaching an agreement to merge Celcom Networks and Digi. Malaysia’s Axiata and Norway’s Telenor would each retain a 33.1% stake in the merged unit, which would be branded as Celcom Digi and would become Malaysia’s largest mobile operator by subscriber numbers with 19 million, and a combined revenue of 12.4 billion ringgit ($3 billion).