Announcement Relating To Telenor Asa's Recent Announcement On Discussions With Axiata Group Berhad Regarding A Potential Non-cash Combination Of Their Telecom And Infrastructure Assets In Asia (Proposed Transaction)

Back May 06, 2019
Type Announcement
Subject OTHERS
Description

Digi.Com Berhad (Digi) - Announcement relating to Telenor ASA's recent announcement on discussions with Axiata Group Berhad regarding a potential non-cash combination of their telecom and infrastructure assets in Asia (Proposed Transaction)

The Board of Directors of Digi (Board) was informed on 5 May 2019 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 discussions regarding a potential non-cash combination of their telecom and infrastructure assets in Asia in a new entity, MergeCo, in which Telenor will hold a majority stake.

 

In a statement to the Oslo Stock Exchange, Telenor has also announced that there is no certainty that these discussions will result in any transaction agreement between the parties.

 

Please refer to Telenor’s statement to the Oslo Stock Exchange and their press release dated 6 May 2019 for further information regarding the Proposed Transaction.

 

The Proposed Transaction may have a material impact on our Group, which will depend on the outcome of the on-going discussions between Telenor and Axiata, and various other factors including a due diligence exercise.

 

The Board has been informed that Telenor and Axiata will work towards finalising agreements in relation to the Proposed Transaction within the third quarter of 2019 following a due diligence exercise, and that the transaction will be subject to approval by their respective shareholders, receipt of regulatory approvals, and other customary terms and conditions.

 

The Board will make the appropriate announcements in relation to any material development of the Proposed Transaction as may be necessary or required in due course.

 

Please refer to the attachment below.

 


Announcement Info

Company Name DIGI.COM BERHAD
Stock Name DIGI
Date Announced 06 May 2019
Category General Announcement for PLC
Reference Number GA1-06052019-00005

Attachments

  1. 20190506_Digi.Com_Berhad_Press_Release_vF.pdf (Size: 277,497 bytes)