Axiata Celcom and Digi have both sought approval for a merger plan at a shareholders’ meeting held on November 18. both Axiata Celcom and Digi have received shareholder authorisation to proceed with the merger.
Both companies have been preparing for the merger since last year and have been approved by the Malaysian Communications and Multimedia Commission (MCMC), the Securities Commission of Malaysia (SC) and the Malaysian Stock Exchange (Bursa). Now the shareholders of the two companies have also approved the merger plan.
Once the merger between Axiata Celcom and Digi is completed, it will form the largest telecommunications company in the country, namely Celcom Digi Berhad, which will be owned 33.1% by Celcom’s parent company Axiata and 7.0% by Digi’s parent company Telonor, 9.8% by the Public Provident Fund Board (EPF), 7.0% by the National Investment Agency (PNB), and 7.0% by the Malaysian government. PNB will hold 7.0%, KWAP will hold 2.4% and the public will hold 14.6%.