Celcom And Digi Are Reportedly Merging Their Operations Across Asia
Telco giants Axiata Group Bhd and Telenor Group are reportedly planning to merge their Asian operations
Malaysian-based Axiata wholly owns Celcom Axiata Bhd, while Norwegian-based Telenor controls a 49% stake in Digi.com Bhd.
The speculation surrounding the companies comes after Axiata Group and Digi.com both suspended their shares from trading on Bursa Malaysia on 6 May, The Edge Market reported.
Axiata's President and Group CEO Tan Sri Jamaludin Ibrahim is expected to make a "significant announcement" at 4pm today
If the speculations are true, the merger would involve at least 300 million mobile subscribers in Asia.
AmInvestment Research expects Telenor to have majority stake in the merger of operations with Axiata due to its larger EBITDA and earnings base, Soya Cincau reported.
The value of the merger is not yet known.
Both the mobile service operators have a presence in Malaysia, Thailand, Myanmar, Bangladesh, and Pakistan
Axiata also operates in India, Sri Lanka, Nepal, Cambodia, and Indonesia.
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