PETALING JAYA: Axiata Group Bhd and Digi.com Bhd were among the top losers this morning after the termination of merger talks to create the largest telco player in the region.
At 11.04am, Axiata and and Digi were trading 14.6% and 6.3% lower at RM4.17 and RM4.58, respectively after the resumption of trading.
Axiata and Digi hit their intraday lows of RM4.01 and RM4.30 in the morning session.
Last Friday, Axiata and Digi’s parent company Telenor ASA announced that they had ended four-month long discussions on a possible merger for the two telcos’ operations in Asia, due to some “complexities” involved in the proposed transaction.
However, both parties do not rule out the possibility of a future transaction.
source https://www.thesundaily.my/business/axiata-digi-tumbles-as-proposed-merger-falls-through-MA1354907
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