KUALA LUMPUR: Axiata Group Bhd shares on Bursa Malaysia went up in early trade today after the group expressed its confidence that the merger exercise with Telenor Group’s Digi.com Bhd would be completed by the first quarter of 2022.
As at 10 am, the counter rose 5.0 sen to RM4.09 with 622,200 shares changing hands.
President and group chief executive officer Datuk Izzaddin Idris said on Friday last week that the group had made the submission to the Malaysian Communications and Multimedia Commission (MCMC) last month seeking the regulator’s approval for the exercise.
“My hope is that we can complete it sooner rather than later, whether it is in the first quarter or second quarter of next year; but I do hope if we can complete it by January or February 2022, then we are in good shape,” he said during a virtual media briefing.
Axiata and Telenor signed the transaction agreements for the proposed merger on June 21, 2021.
The signing of the agreement signified a confirmation of their intent to establish a commercially stronger and more resilient digital converged service provider to drive Malaysia’s digital ambitions. – Bernama