Axiata and Digi’s boards have both approved the proposed merger of their respective Malaysian mobile units, Celcom Axiata and Digi Telecommunications.
Following extraordinary general meetings, the boards issued statements confirming their final approvals. These clear the way for the long-anticipated merger to finally go ahead, Axiata and Telenor each taking a 33.1% stake in the resulting entity, which will be branded as Celcom Digi.
Axiata and Digi noted that they had submitted the results of their EGM poll votes to local stock exchange Bursa Malaysia, as required by law.
The merged unit will become Malaysia’s largest mobile player. The merger has already been approved by regulator MCMC (Malaysian Communications and Multimedia Commission) as well as the Securities Commission and Bursa Malaysia.