The parent company of Celcom, Axiata Group Bhd has revealed that the much anticipated merger between Celcom and Digi is expected to be completed in the second half of 2022. Furthermore. the proposed merger will form a new entity called 'MergeCo'.
Previously, Axiata and Telenor Group - the parent company of Digi - had announced on 8 April 2021 that they were in advanced discussions to undertake a merger of both companies' telco operations. Subsequently on 24 November 2021, Axiata also announced that MergeCo had initiated engagement with the Malaysian Communications and Multimedia Commission (MCMC) for the merger assessment process.
As reported by Bernama, a stock exchange filing to Bursa Malaysia for the merger was made yesterday. Axiata further clarified that the completion of the transaction will be subject to the approval of both the company and Digi shareholders, as well as regulatory approvals and other terms and conditions.
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