Digi's largest shareholder Telenor in discussions with Axiata regarding a potential non-cash combination of their telecom and infrastructure assets in Asia

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Press Release
May 5, 2019
https://digi.com.my/media/articleURLhereWhichCanbeReallyLong

KUALA LUMPUR, 6 May 2019 - The Board of Directors of Digi.Com Berhad ("Digi") was informed by its largest shareholder Telenor Group ("Telenor"), that Telenor and Axiata Group Berhad ("Axiata") are in discussions regarding a potential non-cash combination of their telecom and infrastructure assets in Asia in a new entity ("MergeCo"), where Telenor Group will hold a majority stake in the proposed MergeCo.

In a statement to the Oslo Stock Exchange today, Telenor has announced that the potential non-cash combination of telecom and infrastructure assets aims to create a leading, well diversified Pan-Asian telco with operations in nine countries with a population of close to one billion people and 300 million customers, and become one of Asia's largest mobile infrastructure companies operating approximately 60,000 towers across Asia.

However, there is no certainty that these discussions will result in any transaction agreement between the parties.

The Board of Digi.Com Berhad has been informed that Telenor and Axiata will work towards finalising agreements in relation to the proposed transaction within the third quarter of 2019 following related due diligence.

For further details, please refer to the related announcement here or on www.telenor.com.