Telenor and Axiata formed Celcom Digi in a $12bn deal.

Telenor Group, a multinational telecommunications company, and Axiata, a multinational telecommunications conglomerate, formed Celcom Digi, a provider of telecommunication services, by merging their Malaysian mobile operations Digi and Celcom, in a $12bn deal. Axiata and Telenor will be equal partners with a 33.1% ownership stake each in the combined entity. “Connecting people to what matters most will always be Telenor’s foundation for growth in Asia. As we embark on a new chapter in Malaysia, we are grateful to Axiata and Celcom, the Digi family, the regulators and all our partners for their trust and support. We are excited about the new possibilities the new company will ignite. Telenor is committed to be an active owner, bringing technology know-how, experience across international markets and global partnerships with industry giants to Celcom Digi,” Jørgen C. Arentz Rostrup, Telenor Executive Vice President and Head of Asia. On June 15, 2021, Axiata and Telenor announced that the merger of their Malaysian operation will complete within days. On June 21, 2021, companies announced signing of the merger agreement.