Published on 8/04/2021 10:55:35 AM | Source: Reuters
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
SINGAPORE - Malaysian telecoms firm Axiata Group Bhd and Norway's Telenor ASA are set to announce on Thursday a transaction that involves the Malaysian mobile operations of both firms, a source familiar with the matter said.
Trading in shares of DiGi.Com Bhd, which counts Telenor as its biggest shareholder, and Axiata, were suspended earlier in the day pending a material announcement, Axiata and DiGi.Com said.
The source declined to be identified as he was not authorised to speak to the media.
In response to a Reuters query, Telenor and DiGi.com declined to comment, while Axiata referred to a news conference to be held later on Thursday.
In September 2019, Telenor and Axiata called off a proposed deal to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia, blaming "complexities" in the project.
And last year, Telenor said it was combining its Asian operations into a single entity under new leadership to be better placed to pursue deals in the region.
Digi.Com is Malaysia's second largest mobile services provider by subscribers, while Axiata's domestic unit Celcom Axiata Bhd, is the third largest, in a sector facing intense competition.
Post Budget Analysis : Growth-oriented budget, one of the best in years Says Ashish Kumar Chauhan, NSE
The rupee is likely to depreciate today amid strong dollar and persistent FII outflow from domestic markets - ICICI Direct
Digi Yatra to be implemented at Kolkata, Pune, Vijayawada and Hyderabad airports by March
GBPINR is continuing its bullish momentum and making higher highs on daily chart - Swastika Investmart