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Axiata, Norway s Telenor in advanced discussions to merge Malaysian telco units

Axiata, Norway’s Telenor in advanced discussions to merge Malaysian telco units The Axiata headquarters building is seen in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said/Files April 8, 2021 Axiata Group Bhd and Norway’s Telenor Group are in advanced discussions to merge their Malaysian telecom operations to create the largest mobile operator in the country. The companies seek to combine Celcom Axiata Bhd and Digi.com to form Celcom Digi, in which they will have equal ownership of 33.1% each, Axiata said in a statement on Thursday. The combined entity will continue to be listed on Bursa Malaysia. As part of the proposed transaction, Axiata will receive newly issued shares in Digi and a cash consideration of around 2 billion ringgit ($483.56 million), of which 1.7 billion ringgit will come from Digi as new debt and the rest from Telenor, the Malaysian firm said.

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Telenor, Axiata in advanced discussions to merge Malaysian operations

Telenor, Axiata in advanced discussions to merge Malaysian operations Star Business Report Star Business Report Telenor Group and Axiata Group Berhad are in advanced discussions about a potential merger of their Malaysian mobile operations Digi and Celcom, Telenor said today. The merged company will be named Celcom Digi Berhad, the Norwegian company said in a press release. Telenor Group and Axiata will work towards finalising agreements in relation to the proposed transaction within the second quarter of 2021 following due diligence. Both parties will have equal ownership of 33.1 per cent each in the new company, which is expected to be a leading provider of telecommunication services in the Southeast Asian country, with competence and scale to meet increasing expectations and demand from a digitally connected society.

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Axiata, Telenor in talks to form Malaysia s top mobile operator

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.

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DiGi-Celcom Merger Might Be Coming Soon

channel for the latest stories and updates. Word around the campfire is that a merger is imminent between Celcom – a subsidiary of Axiata Group – and DiGi.Com, which is under the Telenor Group. Reports have surfaced with The Edge saying that the merge will be just for their operations in Malaysia. The merger will bring in financial benefits, although each party will not hold a controlling stake in the merged entity … the merger should be evaluated in [terms of] the financial benefits. Source via The Edge News about the merger has been brewing for a few years now, the closest being in 2019 before it was called off after Axiata Group Bhd and Telenor ASA decided not to continue.

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Telenor, Axiata plot Malaysian merger - Mobile World Live

Telenor, Axiata plot Malaysian merger - Mobile World Live
mobileworldlive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mobileworldlive.com Daily Mail and Mail on Sunday newspapers.

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