Axiata, Telenor sign $15b deal to merge Malaysian telecoms units

FILE PHOTO: A general view of the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng/File Photo

Malaysian telecoms firm Axiata Group Bhd and Norway’s Telenor ASA sealed an agreement to merge their mobile operations in Malaysia in a $15 billion deal, forming a new market leader in the competitive Southeast Asian nation.

The companies had said in April that they were in advanced talks to merge Celcom Axiata Bhd and DiGi.Com Bhd, and both parties would each own 33.1% of the merged firm.

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