MCMC to come up with decision on Axiata-Telenor merger once all information is provided

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KUALA LUMPUR (May 10): The Malaysian Communications and Multimedia Commission (MCMC) will make a decision pertaining to the proposed merger between Axiata Group Bhd and Norway's Telenor Group once it obtains and evaluates all the relevant information.

"MCMC is always open to initiatives by industry players such as this proposal announced. At this point, we wish to inform you that Axiata Group Bhd and Norwegian Telenor Group are still in talks and the outcome has yet to be finalised," the commission said in a statement sighted by theedgemarkets.com.

MCMC added that one of its roles is to ensure fair competition within the industry as well as to preserve consumers' choice and rights.

For the time being, MCMC said it remains focused on the National Fiberisation and Connectivity Plan (NFCP), which it said "will provide the rakyat with a robust, pervasive, high quality and affordable digital connectivity to propel the nation towards sustainable development".

On Monday, Axiata announced that it is in talks with Norway's Telenor Group to merge their operations in Asia.

Assets that have been put on the negotiating table are both parties' mobile service operations and telco towers that spread across Asean and Southern Asia.

Axiata president and group chief executive officer Tan Sri Jamaludin Ibrahim was reported as saying that the merged entity will be the largest operator in ASEAN with a pro forma revenue of RM50 billion and a net profit of RM4 billion.