KUALA LUMPUR, June 15 (Reuters) - Malaysian telecoms firm
Axiata Group Bhd and Norway's Telenor ASA
will seal a deal to merge their Malaysian mobile operations
within days, Axiata's CEO said on Tuesday.
Both companies have concluded the due diligence process and
are hopeful to sign the agreement soon, Izzaddin Idris told a
virtual briefing with reporters. "The signing is a matter of
days or a week," he added.
Idris said shareholders were upbeat about the proposed
merger of Malaysia's second and third-largest mobile services
providers, which Axiata had said will help restore long-term
growth and profitability to the industry there.
Axiata and Telenor announced in April they were in advanced
talks to combine Celcom Axiata Bhd and Telenor's DiGi.Com Bhd
, to create the top player in Malaysia's highly
competitive sector. The two companies will each own about 33.1%
of the merged entity, Celcom Digi Berhad.
Idris added that the merger could be completed in nine to 12
months, depending on regulatory approvals.
(Reporting by Liz Lee; Editing by Louise Heavens and Pravin