Monday, July 26, 2021

Telenor, Axiata to merge Malaysian telecoms units

Excluding savings to be made through the merger, the new company is estimated to have a market capitalisation of close to RM50 billion.

Other News

The Norwegian and Malaysian telecoms groups Telenor and Axiata said Monday they would merge their Malaysian operations into a group worth around US$12 billion.

Celcom, which is owned by Axiata and Digi, owned by Telenor, would form a company whose name was not immediately revealed and in which each parent group would hold a stake of 33.1%, a statement said.

The remaining shares are to be listed on the Kuala Lumpur stock exchange.

Excluding savings to be made through the merger, the new company is estimated to have a market capitalisation “of close to RM50 billion” or US$12 billion, the statement said.

It is expected to serve 19 million clients and make a net annual profit of RM1.9 billion on 12.4 billion in sales.

Follow us on Telegram for the latest updates: https://t.me/malaysianow

Subscribe to our newsletter

To be updated with all the latest news and analyses.

Related Articles