Malaysia’s Axiata, DiGi.Com shares suspend trading ahead of ‘material announcement’ – About Your Online Magazine

KUALA LUMPUR (Reuters) – Axiata Group Bhd and Malaysia’s DiGi.Com Bhd suspended trading in their shares on Thursday pending a “relevant announcement”, both telecommunications companies said in exchange documents.

Last month, the local newspaper The Star reported citing sources that negotiations were resumed between Telenor ASA, DiGi.Com’s largest shareholder, and Axiata for a merger between its mobile telecommunications unit.

In May 2019, both parties explored a possible non-monetary combination of their telecommunications and infrastructure assets in Asia into a new entity, but canceled negotiations in September.

Reporting by Liz Lee, Sherry Jacob-Phillips edition

Paula Fonseca