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Malaysia’s Axiata and Norway’s Telenor in talks to merge Celcom and Digi
- Thursday | 8th April, 2021
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. 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%. Local ownership will exceed 51% with Malaysian institutional investors owning at least 17.9% of shares in Celcom Digi, Axiata said. Reuters reported earlier on Thursday that Axiata and Telenor were set to announce a deal involving the Malaysian mobile operations of both companies. Axiata and Telenor said they will seek to finalise agreement on the proposed transaction in the second quarter following due diligence.
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