UPDATE (1:53 PM): Axiata and Telenor Asia have officially unveiled their plan to merge Celcom and Digi. Check out our report here for further details.
ORIGINAL STORY (11:05 AM):
Axiata and Digi earlier today have suspended their trading activities on Bursa Malaysia. Both companies provided the same “pending the release of a material announcement” reason for the temporary suspension.
Hence, this immediately ignited speculations that both companies may jointly announce their merger plan today. Axiata and Telenor (Digi’s parent company) have actually embarked on this journey back in May 2019 which would lead to the merger of Celcom and Digi to form the biggest telco in the country.
However, the merger was then called off in September of the same year. But just a few months later in January 2020, The Star reported that the merger talk is back once again although the rumour was then brushed off by Jamaluddin Ibrahim who was the Chairman and Group CEO of Axiata at that time.
Axiata has since scheduled a media briefing that will take place later this afternoon. We will keep you updated on its progress, so stay tuned.
(Source: Bursa Malaysia [1][2].)
