Malaysia-based Axiata’s board of directors has announced that at the conclusion of an Extraordinary General Meeting (EGM) held today (18 November), its shareholders approved the proposed merger of its domestic unit Celcom Axiata with fellow mobile network operator Digi Telecommunications. In a press release confirming the green light had been given to the planned tie-up, Axiata noted that the outcome of the EGM by poll vote has been submitted to Bursa Malaysia as required by the applicable regulations.
Following its own EGM – also conducted today – Digi has confirmed that its shareholders have similarly voted to approve the proposed merger. It noted, meanwhile, that a formal filing on the outcome of the meeting will be made to Bursa Malaysia once the market reopens in the coming week.
With both Axiata and Digi shareholders having now given their respective approvals for the merger, it moves one step closer to completion, having already been cleared by the Malaysian Communications and Multimedia Commission (MCMC), the Securities Commission and Bursa Malaysia.