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  Malaysian telecom company Axiata Group and Norway’s Telenor are planning to merge their operations in the Southeast Asian country, according to releases by both companies on April 8. Plans are to merge Celcom Axiata and Digi.com into a new entity in which the firms would each own about 33.1%. Local ownership would exceed 51% with Malaysian institutional investors owning at least 17.9% of shares in Celcom Digi, Axiata said. “It is no secret that the telecommunications industry continues to face long-term structural headwinds of slower growth, increased operating costs and lower profits,...

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 lo...

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. 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 Th...

Developing Telecoms Newsletter Sign Up Keep up-to-date with the latest telecoms news in emerging markets globally. Subscribe to Developing Telecoms' FREE weekly newsletter. Afghanistan Bosnia and Herzegowina Cook Islands Samoa South Sudan, Republic of Sweden Uruguay Business/Industry/Finance User * Your personal data will not be shared with third parties. Click here to view our privacy policy. 178 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 agree...