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Axiata: Due diligence for Celcom-Digi merger completed, to sign definitive agreements soon
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Malaysia s Axiata says merger with Telenor to be sealed within days
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23 Apr 2021 / 15:02 H.
KUALA LUMPUR: Digi.Com Bhd’s net profit for the first quarter ended March 31, 2021 (Q121) fell 20.2 per cent to RM264.83 million from RM332.0 million in the same quarter last year.
Revenue declined to RM1.55 billion from RM1.56 billion a year ago, moderated by 0.6 per cent on the effects of border closures, changes in prepaid subscribers and revenue mix.
In a statement today, Digi said the lower profit was largely due to a fair value loss in relation to interest rate swap contracts of RM22 million as compared to a fair value gain of RM37milion in the same period last year, given the substantially low projected interest rates at the onset of the pandemic.
By Reuters Staff
1 Min Read
KUALA LUMPUR (Reuters) - Malaysia’s Axiata Group Bhd and DiGi.Com Bhd suspended trading of their shares on Thursday, pending a “material announcement”, both telecommunication companies said in exchange filings.
Last month, local newspaper The Star reported citing sources that talks have resumed between Telenor ASA, the largest shareholder in DiGi.Com, and Axiata for a merger between their mobile telecoms unit.
Both parties had explored in May 2019 a potential non-cash combination of their telecom and infrastructure assets in Asia in a new entity, but called off the talks in September.
Reporting by Liz Lee, Editing by Sherry Jacob-Phillips
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