Telenor And Axiata In Advanced Discussions To Merge Malaysian Operations ("Proposed Transaction")
TELENOR AND AXIATA IN ADVANCED DISCUSSIONS TO MERGE MALAYSIAN OPERATIONS ("PROPOSED TRANSACTION")
(Unless otherwise stated, all abbreviations and definitions used herein shall have the same meaning as defined in the Company’s announcement dated 8 April 2021 except where the context otherwise defined herein)
The Board of Directors of Digi.Com Berhad (“Digi”) was informed by Telenor ASA (“Telenor”), the parent company of Digi's largest shareholder, Telenor Asia Pte Ltd, that Telenor and Axiata Group Berhad (“Axiata”) are in discussion to merge the telco operations of Celcom and Digi (“MergeCo”), in which the parties will have an equal ownership of 33.1% each.
The transaction may have a material impact on our Group, which will depend on the outcome on the on-going discussion between Telenor and Axiata, and various other factors including a due diligence exercise.
This announcement is dated 8 April 2021.