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KUALA LUMPUR: The FBM KLCI remained firmly set in the red as profit-taking pressured the index lower to the 1,600 psychological support.
KUALA LUMPUR: Profit-taking took the FBM KLCI lower in Monday morning trade following Friday's strong advance on the back of a jump in Axiata's and Digi's share prices.
The new entity, Celcom Digi Bhd, will become the biggest player locally, with an estimated annual revenue of RM12.4bil and 19 million subscribers or about a 40% market share. How will this affect the local telco landscape?
AFTER Digi.com Bhd and Axiata Group Bhd’s subsidiary Celcom Axiata Bhd announced their merger plan to become the country’s largest telecommunications company, both stocks soared significantly.
THE merger between Celcom Axiata Bhd and Digi.Com Bhd opens an interesting question of whether a similar merger of equals in the banking sector also needs to take place.
It was overall a good week in Malaysian equities although the bourse was a late joiner to the global optimism.
KUALA LUMPUR: Trading interest in the local telco sector single-handedly drove the FBM KLCI higher in the morning session, despite profit-taking in other sectors.
KUALA LUMPUR: A surge in the share prices of Axiata and Digi following the announcement of a merger sent the FBM KLCI higher in early Friday trade.
KUALA LUMPUR: Shares of both Axiata Group Bhd and Digi.com BHd shot up on news that the telcos are in advanced discussion about a merger.