Axiata, DiGi halt share trade ahead of possible merger announcement

Telecommunications providers Axiata and DiGi both requested Bursa Malaysia to suspend trading of their shares this morning pending a merger announcement.

According to the two companies’ statements to Bursa Malaysia, they asked that trading of their shares be halted from 9am today.

Earlier, The Edge Markets reported that Axiata Group Bhd and Norway’s Telenor, that owns a 49 per cent stake in Digi.Com Bhd, were negotiating a possible merger of their operations in Malaysia, Thailand, Myanmar, Bangladesh and Pakistan.

The business site also said the merger could also include countries where DiGi did not currently have any presence.

The proposed value of the merger was not reported.