KUALA LUMPUR: Axiata Group Bhd and Norwegian multinational telecommunications company, Telenor ASA, will be conducting a due diligence exercise for their proposed merger, also known as MergedCo.
President and group CEO Tan Sri Jamaludin Ibrahim said the due diligence process includes looking into the balance sheet and legal issues, adding that the process is expected to be concluded within three to six months.
“We will have to agree on the management team of primarily MergedCo and at least a few people in (its subsidiary) MalaysiaCo.
“As for the rest of the operating companies on their side and our side, there is no intention to change the management,“ he told reporters after the group’s annual general meeting today.
MergedCo will have about 67% stake in MalaysiaCo – a planned merger between Celcom Axiata and Digi.Com.
