Robi beyond merger transaction proposal
DHAKA’, May 6 (NsNewsWire) — Axiata Group Berhad (“Axiata”), parent company of Robi Axiata Limited (“Robi”) has today announced that it is in discussion with Telenor Group (“Telenor”) to merge both of their operations in Asia. As clarified in Axiata’s announcement in this regard today, Robi will not be part of the proposed merger and shall remain a direct subsidiary of Axiata post completion of the proposed transaction.
Therefore, Robi will continue to be separately and independently managed by Axiata post completion of this proposed transaction. Meaning that the proposed merger will have no bearing on the Bangladesh market. Although, it should be noted that there is no certainty these discussions between Axiata and Telenor will result in any binding agreement or obligations on both the parties involved to proceed with any acquisition, merger or divestment.
While several issues and matters are yet to be determined and agreed upon, given the mutual due diligence to be undertaken shortly, involving more than one dozen entities across nine (9) countries (excluding Robi), Axiata has opted for an early voluntary disclosure to ensure transparency to its shareholders as discussions progress.
Robi Axiata Limited is a joint venture between Axiata Group of Malaysia, Bharti Airtel, of India and NTT Docomo Inc., of Japan. Axiata holds 68.7% controlling stake in the entity, Bharti holds 25%, while the remaining 6.3% is held by NTT Docomo of Japan. Press Release