In a turn of events, it has been announced that both Axiata Group Berhad and Telenor ASA, the parent company of Celcom and Digi respectively have seemed to end their discussions on a mutual agreement since the news four months ago.
In case you didn't know, the news first broke out in early May about the new merging and the two groups had a conference confirming it. According to the latest media release from Burma Malaysia, the transaction agreement could not be finalized due to the Proposed Transaction which is the combination of their telecom and infrastructure assets in Asia.
Despite this, the terminated Proposed Transaction does not affect either party at all. Axiata’s Chairman Tan Sri Ghazzali Sheikh Abdul Khalid said that the Board still recognizes the strong strategic rationale of the deal and may revisit it one day.
Apart from the usual business talk on mid-to-long-term strategies, there were no further comments on the Proposed Transaction. To recap, the MergedCo was initially proposed to be owned by Telenor with 56.5%, while Axiata takes 43.5%.
Oh well, perhaps it's better this way? But what do you think? Let us know in the comments below and stay tuned for more tech news at TechNave.com.
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