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Malaysia approves Celcom, Digi merger

Axiata Group and Digi.com have announced that they have received a notice of no-objection from the Malaysian Communications and Multimedia Commission to proceed with the merger of Celcom Axiata and Digi, to form Celcom Digi Bhd. The combined entity is seen to overtake Maxis and become Malaysia’s largest mobile service operator by revenue. Axiata is the parent company of Celcom Axiata, while Digi’s majority shareholder is Norway’s Telenor, which owns 49%. The merger is expected to be completed within the second half of 2022, after it gets approval from the Securities Commission, Bursa Malaysia, and shareholders. Once done, Axiata and Telenor will have an equal stake of 33.1% each in Celcom Digi Bhd, which will continue to be listed on Malaysia’s stock exchange.

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