Telenor, Axiata to merge Malaysian telecoms units
Excluding savings to be made through the merger, the new company is estimated to have a market capitalisation of close to RM50 billion.
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The Norwegian and Malaysian telecoms groups Telenor and Axiata said Monday they would merge their Malaysian operations into a group worth around US$12 billion.
Celcom, which is owned by Axiata and Digi, owned by Telenor, would form a company whose name was not immediately revealed and in which each parent group would hold a stake of 33.1%, a statement said.
The remaining shares are to be listed on the Kuala Lumpur stock exchange.
Excluding savings to be made through the merger, the new company is estimated to have a market capitalisation “of close to RM50 billion” or US$12 billion, the statement said.
It is expected to serve 19 million clients and make a net annual profit of RM1.9 billion on 12.4 billion in sales.
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