A clear winner in the country’s MyDIGITAL digitisation push, Telekom Malaysia Bhd’s share price hit a new all-time-high of RM6.62 on Feb 9, beating the previous record of RM6.45 in May 2015. While prices had since retreated, they are poised to reach new heights if the more bullish street predictions are to be believed. If the fact that Telekom’s share price had doubled in the past year and tripled from its decade-low of RM2.02 on Oct 26, 2018, is heaping additional pressure on the company to outperform, its managing director and group CEO Imri Mokhtar is taking it in his stride: “I guess we will be fairly rewarded by shareholders [as we focus on serving our customers better].”
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KUALA LUMPUR (Reuters) -Malaysian telecoms company Axiata Group Bhd and Norway’s Telenor ASA are nearing a deal to combine their Malaysian mobile operations to create the country’s top player in the highly competitive sector.
A woman walks past the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng/File Photo
The companies said on Thursday they were in advanced talks to merge Celcom Axiata Bhd and DiGi.Com Bhd, in which the parties would each own about 33.1%.
“While the possible combination of Celcom and Digi has been on the cards before, drivers such as 5G rollout and the government’s decision to intervene has shaken up the industry recently,” said Mark Robinson, Asia Pacific head of TMT at Herbert Smith Freehills.
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KUALA LUMPUR (April 8): Trading in the shares of Axiata Group Bhd and Digi.Com Bhd have been suspended pending an announcement.
In separate filings to the stock exchange this morning, the companies said that accordingly, all structured warrants relating to DIGI will also be suspended at the same time.
The trading suspension of the two telcos has sparked fresh speculation in the market given that axiata and Digi s parent Telenor were in merger talk before but negotiation fell through.
Axiata and Digi’s Norwegian parent Telenor ASA mutually agreed to terminate their megamerger to consolidate both telecommunication giants’ operation in Asia after about four months of negotiation last year.