By Dominic Chopping

Norwegian telecom provider Telenor ASA said Wednesday that alongside Malaysian operator Axiata Group Bhd, they have completed the merger of their Malaysian mobile operations, Celcom Axiata Bhd and Digi.com Bhd.

The companies said in April last year that they were in advanced talks on a proposed merger.

The new company will be called Celcom Digi and will retain its Digi listing on Bursa Malaysia, Telenor said.

On completion of the deal, Axiata received newly issued Digi shares representing 33.1% of the enlarged share capital of Digi, and 2.5 billion Malaysian ringgit ($554.5 million) in cash.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 30, 2022 09:15 ET (14:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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