News & Reviews:   Telenor

Reports have surfaced that Norwegian telecommunications group Telenor may be considering an eventual exit from its 33.1% stake in Malaysia’s largest mobile operator, CelcomDigi. The speculation comes in the wake of Telenor’s recent divestments in other Asian markets, including its full exit from Thailand through the sale of its stake in True Corporation.

The Celcom-Digi merger has been completed. In a filing with Bursa Malaysia, Axiata stated that the company would hold equal ownership with Telenor in Celcom Digi at 33.1 per cent each. The merger will also become the largest local listed technology company on Bursa Malaysia.

Over the weekend, the Board of Directors of Digi.Com Berhad and Axiata Group Berhad announced the companies' shareholders had approved the proposed merger of Digi and Celcom's operations at its Extraordinary General Meeting (EGM). A formal filing on the outcome of the EGM will be made to Bursa Malaysia once the market reopens in the coming week.

It looks like the Digi and Celcom merger is getting close to completion after the Securities Commission Malaysia’s (SC) approval of the proposed merger between the two local telco giants. This announcement comes after almost 2 months after the Malaysian Communications and Multimedia Commission (MCMC) also gave its approval for the merger.

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’.

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'.

Two years ago, there were talks about Celcom and Digi's parent companies - Axiata and Telenor respectively about merging together but the plan failed through. Today, the two parties are back at discussions and a newly merged company will be created as Celcom Digi Berhad.