Axiata, Telenor agree to merge Malaysian mobile operations

Both Axiata and Telenor had previously announced plans to merge their Asian operations in 2019, but the talk was called off several months later. — NORAFIFI EHSAN/The Star

Axiata Group Bhd and Norway’s Telenor ASA are in advanced discussions to merge their Malaysian mobile operations, which could create the country’s biggest cellphone operator by subscribers.

The parties are working toward finalising a deal to combine Celcom Networks Bhd and Digi.com Bhd, according to a joint statement on Thursday. Axiata and Telenor will have an equal ownership of 33.1% each in the merged entity, Celcom Digi Bhd. The announcement confirms an earlier Bloomberg News report.