oth to have equal ownership of 33.1% of merged company
They said upon completion of the transaction, the both companies look forward to realising the potential of the proposed merged company, which is expected to"culminate in a stronger capacity to drive digitalisation in society broadly, for consumers, businesses, the partner ecosystem and for the development of local talent."
MergeCo has proposed to invest up to US$56.8 million over five years to build a world-class innovation center in Kuala Lumpur. Establishing a separate independent business unit for mobile virtual network operator wholesale business under MergeCo within six months after completion of the merger and ensuring continuity of access to wholesale services for MVNOs at terms no worse off than existing agreements;
Shahril Ridza Ridzuan, chairman of Axiata said, “We thank the MCMC for their approval and guidance to reach this significant milestone.