Axiata says commercial aspect of merger with Telenor '90pc done' | Malay Mail

Axiata Group Bhd president and group CEO Tan Sri Jamaludin Ibrahim said that there is still a lot to be agreed upon — however, the deal is 90 per cent done as for the commercial aspect of the merger.— Picture by Abdul Razak Ghazali suggested that the merger between Telenor and Axiata has hit a snag, Axiata Group Bhd president and group chief executive officer Tan Sri Jamaludin Ibrahim has reassured the public that a deal is still very much in the works.

Sources earlier raised potential issues surrounding the merger, including disagreements over equity share and the potential relocation of the combined entity from Kuala Lumpur to Singapore. He also stated that there would be minimal change to top management positions or to the shareholding structure of the combined entity, which also form part of the alleged set of issues holding up the deal.

However, a key aspect is also national interest, with a source earlier saying that “we are nationalists”, and that Celcom staff fearing for their jobs after the initial announcement of the merger was made.

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