P1 closer to M&A deal, Digi and TM seen as contenders

PETALING JAYA: Packet One Networks (M) Sdn Bhd (P1) is inching closer to a merger and acquisition (M&A) deal with legal documents having been drafted by advisers, banking sources said.

However, it isn’t clear who the exact party the M&A is with, but indications are that it is either DiGi.Com Bhd or Telekom Malaysia Bhd (TM), both of whom have been widely speculated in the past to be eyeing an M&A with P1.