It’s signed – Axiata, Telenor ink RM50bil deal

[superadmin]

PETALING JAYA: Axiata Group Bhd. and Norway’s Telenor ASA signed a definitive agreement to combine their Malaysian mobile operations in what is the biggest telecom transaction in the country.

Axiata will transfer its stake in Celcom Axiata Bhd. to Digi.com Bhd. for RM17.8 billion, according to a filing today. In return, it will get new shares and RM1.7 billion in cash from Digi, and close to RM300 million from Telenor. The merged entity will have a “pre-synergy equity value” of close to RM 50 billion.

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