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June 16, 2021

Will Join Digi, Axiata Shares Rise

 Axiata Group Bhd's shares on Bursa Malaysia rose during early trading this morning, driven by positive developments on its proposed merger with Digi.com Bhd which is scheduled to be signed later this month.

At 9.39am, the stock rose 4.0 sen to RM3.96 with 440,000 shares changing hands.

In a report yesterday, its President and Chief Executive Officer, Datuk Izzaddin Idris said, Axiata and Norwegian firm, Telenor Group have completed the due diligence aspects set by both parties.

He explained that both parties are now in the process of finalizing the agreement and hoped that it could be signed in the near future, either a few days or a week, depending on efforts to resolve several related issues.

"As announced on April 8, discussions on the merger can be finalized by the end of the second quarter of this year. Therefore, we still have about 15 more days to present the results, ”he said as reported by Bernama.

He said this at a press conference after Axiata's 29th annual general meeting virtually yesterday.