Axiata shares will resume trading on the KL Stock Exchange on Thursday after being suspended for the whole of Wednesday upon its major merger announcement in Indonesia.
The stock price closed at 2.37 this morning before being suspended.
The group announced that it has signed a definitive agreement with Sinar Mas to progress the proposed merger of PT XL Axiata Tbk, PT Smartfren Telecom Tbk, and Smartfren's subsidiary – PT Smart Telcom – in Indonesia.
The deal will see Axiata becoming a significant mobile player in Indonesia with a 27% market share.