3 Min Read
SINGAPORE/KUALA LUMPUR/OSLO (Reuters) -Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA are in advanced discussions to merge their Malaysian mobile operations, the firms said on Thursday.
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Both companies said they were discussing the merger of the telco operations of Celcom Axiata Berhad and Digi.Com Bhd, in which the parties would have equal ownership estimated at 33.1% each.
Malaysian institutional investors would own at least 17.9% of the shares in the new company, ensuring that the overall local ownership exceeded 51%, Axiata said.
The company would be called Celcom Digi Bhd.
Reuters reported earlier on Thursday that Axiata and Telenor were set to announce a deal involving the Malaysian mobile operations of both firms.
Axiata, Telenor to unveil deal involving mobile units: source
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4 Min Read
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%.
“It is no secret that the telecommunications industry continues to face long-term structural headwinds of slower growth, increased operating costs and lower profits,” Axiata’s CEO Izzaddin Idris said in a statement.
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
Thursday, 08 Apr 2021 12:58 PM MYT
BY SYED JAYMAL ZAHIID
The merger between the two would involve operations in Malaysia, according to The Edge Markets, unlike the previous plan in which Axiata and Digi.Com’s Norwegian parent Telenor ASA had tried to merge their operations at the regional level. Reuters pic
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KUALA LUMPUR, April 8 Celcom Axiata Bhd, a unit of Axiata Group Bhd, is merging with Digi.Com Bhd, business news site
The Edge Markets reported today citing sources familiar with the matter.
The move could potentially create the biggest mobile service provider in Malaysia, it said. Talks about the merger had previously raised concern that it would squeeze competition.
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