News & Reviews:   MergeCo

Axiata Group Bhd and Digi.Com Bhd in a joint statement today welcomed the Malaysian Communications and Multimedia Commission (MCMC)’s decision to approve their proposed merger company. Lauding the potential of the merger in driving digitalisation in Malaysia, both companies also revealed that the new company name would be ‘Celcom Digi Bhd’.

Earlier today we reported that the Malaysian Communications and Multimedia Commission (MCMC) has approved the merger between Celcom and Digi. Now, a further look into the approval shows that it comes with certain requirements, including the divestment of the Yoodo brand.

The Malaysian Communications and Multimedia Commission (MCMC) has today approved the proposed merger between Celcom Axiata Bhd and Digi.com Bhd. Asserting that the merger will create Malaysia’s largest mobile service operator to date, MCMC made the decision after conducting a thorough assessment on the proposal. 

The proposed merger between two of Malaysia’s biggest telco companies, Celcom and Digi has been in the works for quite some time now. Previously, we reported that the merger is set to be completed in the second half of 2022 but now, it seems that it may extend for a bit longer as the long stop date for their share purchase agreement (SPA) has been extended to 31 December 2022.

Celcom Axiata Bhd today announced that Tan Sri Dr Halim Shafie has been appointed as its new interim chairman. Dr Halim’s appointment is effective since 2 June 2022.

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'.