Axiata Group and Digi pushed back the deadline for reaching an agreement on a proposed merger of their mobile units in Malaysia by six months, a deal which would create the largest operator in the country by subscribers.
In separate stock market filings, Axiata and Digi changed the date for meeting the conditions set out in a share purchase agreement from 21 June to 31 December.
The proposed agreement between Axiata and Telenor Group signed in June 2021 would give each company a 33.1 per cent stake in the new entity and was expected to be concluded within 12 months.
Axiata and Telenor’s plan has since encountered delays.
The Malaysian Communications and Multimedia Commission raised a number of competitive concerns which could halt or delay the conclusion of the deal.
Data from GSMA Intelligence showed Celcom Axiata closed March with 9.6 million mobile connections and Digi 9.5 million.
Digi and Celcom Axiata also face a deadline of 30 June to sign up to the country’s single 5G wholesale network managed by state-owned Digital Nasional.Subscribe to our daily newsletter Back