Axiata, Telenor in advanced talks to merge Malaysian operations




  • In Business
  • 2021-04-08 04:32:44Z
  • By Reuters

By Anshuman Daga and Liz Lee

SINGAPORE/KUALA LUMPUR (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.

Both companies said they were discussing the merger of the telco operations of Celcom Axiata Berhad and Digi.Com Bhd, in which the parties will have equal ownership estimated at 33.1%each.

Axiata together with Malaysian institutional funds would own over 51% of the merged unit, Axiata said.

Earlier on Thursday, Reuters reported that Axiata and Telenor were set to announce a deal involving the Malaysian mobile operations of both firms.

(Reporting by Anshuman Daga, Liz Lee and Terje Solsvik; Editing by Kim Coghill and Stephen Coates)

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