Research houses maintain neutral rating on telecom sector amid proposed Celcom-Digi merger

research houses maintain neutral rating on telecom sector amid proposed celcom digi merger

Sumary of Research houses maintain neutral rating on telecom sector amid proposed Celcom-Digi merger:

  • — Picture via SoyaCincau KUALA LUMPUR, April 9 — Kenanga Research has maintained its ‘neutral’ rating on telecommunication sector amid the news of advanced talks between Axiata Group and Telenor Asia to merge two major cellular service providers in the country, Celcom and Digi.com..
  • In a separate note, Public Investment Bank Bhd also maintained their ‘neutral’ and ‘outperform’ rating on Axiata and Digi respectively, due to pending further details on the structure and valuation of the merger between the two cellular service providers..
  • Meanwhile, AmInvestment Bank Bhd noted that the merger proposal will see Digi likely to acquire Celcom via a share swap together with a cash equalisation sum of RM2 billion, of which RM1.7 billion will come from new Digi debt and RM300mil from Telenor….

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