Securities Commission approves Digi-Celcom proposed merger

KUALA LUMPUR, Sept 15 — The Securities Commission Malaysia has approved the proposed merger between Digi.Com Bhd and Celcom Axiata Bhd under certain terms and conditions, Digi and Axiata Group Bhd said.

Meanwhile, in their respective filings with the exchange today, both telcos said the SC has also approved the Bumiputera equity structure in Digi following the proposed exercise. Of the 59.9 per cent of the enlarged issued for Malaysians, 47.4 per cent would be allocated to non-Bumiputera versus the 21.6 per cent before the merger, while the Bumiputera allocation would be 12.5 per cent, down from 18.8 per cent.

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