in

Celcom-Digi merger proposal formally received by MCMC

KUALA LUMPUR: The proposed merger between Digi.com Bhd (Digi) and Celcom Axiata Bhd (Celcom) has been formally received and is pending approval from the Malaysian Communications and Multimedia Commission (MCMC).

In a filing with Bursa Malaysia today, the telcos said Digi has engaged with MCMC to initiate the merger assessment process in accordance with the commission’s guidelines on mergers and acquisitions.

“The merger application has been formally received by MCMC for its assessment in accordance with the guidelines,” Digi said.

The telcos also said that the completion of the proposed merger will be, amongst others, subject to the approval of the Securities Commission Malaysia and the shareholders of Axiata and Digi. – Bernama

Reference