The Business Times
business-time-50

Telenor and Axiata win key approval for US$15b Malaysia-tie-up

google-preferred-sourceAdd BT as a preferred source
Published Thu, Sep 15, 2022 · 08:27 PM
    • Axiata and Telenor announced last year the planned tie-up between Celcom Axiata and DiGi.Com, forming a new Malaysian market leader in which the 2 parent companies would own 33.1 per cent each.
    • Axiata and Telenor announced last year the planned tie-up between Celcom Axiata and DiGi.Com, forming a new Malaysian market leader in which the 2 parent companies would own 33.1 per cent each. PHOTOS: REUTERS

    MALAYSIAN telecoms firm Axiata Group and Norway’s Telenor ASA have received clearance from the Securities Commission Malaysia for the proposed merger of their local units, Telenor said on Thursday (Sep 15).

    Axiata and Telenor announced last year the planned tie-up between Celcom Axiata and DiGi.Com, forming a new Malaysian market leader in which the 2 parent companies would own 33.1 per cent each.

    Two sources with knowledge of the deal, who spoke on the condition of anonymity, last year told Reuters the deal would form a company with an enterprise value of US$15 billion.

    “The completion of the proposed transaction will now be subject to approval of Bursa Malaysia and Axiata and Digi shareholders,” Telenor said in a statement on Thursday.

    The transaction is expected to close within year end, it added. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    TelecommunicationsM&A

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    While the Min Aung Hlaing government controls major cities and the central apparatus of the state, it reflects stability, not a stalemate.

    Can capital trust Myanmar again?

    Nongfu Spring founder Zhong Shanshan warned during a CCTV interview that e-commerce is killing off emotional and spontaneous consumption

    E-commerce is killing ‘real’ commerce, says China’s beverage king Zhong Shanshan

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More