Digi and Axiata will announce a temporary suspension on April 1 and will provide an update on the merger.
From 9 a.m. on April 1, Digi and Axiata declared a trading stop, possibly to provide an update on the merger.
Digi and Axiata will pause trading on April 1st, commonly known as a trade standstill, according to Bursa Malaysia. Both carriers are expected to provide an update on the merger.
In April of last year, Digi and Axiata announced that they would merge to establish Celcom Digi Berhad, Malaysia’s largest telecommunications business. The Malaysian Institutional Fund will own 17.9% of Celcom Digi Berhad, which was founded recently.
Last July, Digi and Axiata filed a merger application with the Communications and Multimedia Commission, and they will continue to work with the commission to provide the essential information and materials. Celcom and Digi announced in September of last year that they had submitted merger plans to the Malaysian Communications and Multimedia Commission (MCMC), which the committee has yet to approve.
Today’s suspension of Digi and Axiata could be to reveal the newest merger progress; let us wait for the latest merger news.
