Digi is set to merge with Celcom as publicly known after the Board of Directors of Digi.Com Berhad (“Digi”) announce that the company’s shareholders have approved the proposed merger of Celcom’s and Digi’s telco operations at its Extraordinary General Meeting (“EGM”) on 18 November 2022.
According to Digi in a statement, a formal filing on the outcome of the EGM will be made to Bursa Malaysia once market reopens in the coming week.
Approval by both Digi’s and Axiata Group Berhad’s shareholders are one of the final steps in the proposed merger approval process, having previously been cleared by the Malaysian Communications and Multimedia Commission, the Securities Commission, and Bursa Malaysia.
At completion, Axiata and Telenor will hold equal ownership of 33.1 percent each in the new merged company, which is proposed to be named Celcom Digi Berhad.
Once merge, Celcom and Digi will become one of the biggest telcos in Malaysia as they are already currently known as being part of the ‘big three’ telcos in Malaysia.