Axiata Group and DiGi.com Shares Surge on News of Potential Celcom-Digi Merger
09 Aprile 2021 - 4:15AM
Dow Jones News
By Yi Wei Wong
Shares of Malaysian telecom operators Axiata Group Bhd. and
DiGi.com Bhd. rallied in early Friday trade on news of a potential
merger of Celcom and Digi.
Axiata Group said Thursday that it is in advanced talks with
Telenor ASA to merge their Malaysian operations, which could form
the largest local mobile operator in terms of subscribers.
Shares of Digi.com rose 10% to MYR4.13, while Axiata Group's
shares jumped 7.9% to MYR4.10.
The deal would result in Telenor and Axiata having equal
ownership of 33.1% each, and the merged company will be named
Celcom Digi Bhd.
The potential merger could lead to healthier market rivalry
among peers and is positive for the sector overall, Hong Leong
Investment Bank said. Digi.com could be the direct beneficiary from
a successful merger, while Axiata Group may not be able to monetize
on the merger immediately, the investment bank added.
Write to Yi Wei Wong at yiwei.wong@wsj.com
(END) Dow Jones Newswires
April 08, 2021 22:00 ET (02:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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