following the approval from the Malaysian Communications and Multimedia Commission on the proposed merger sent the FBM KLCI higher at midday.
Digi jumped 15 sen, 4.62% to RM3.40, adding 1.7418 points to the index while Axiata surged 14 sen, or 4.98% to RM2.95, nudging the index higher by 1.9188 points. The merger could result in the creation of the largest mobile service operator in Malaysia. Digi and Celcom are currently the second and third largest mobile service operators in the country, MCMC said.HartalegaOn the broader market, F&N rose 32 sen to RM21.30, Hong Leong Industries added 16 sen to RM8.90 and QL advanced 14 sen to RM5.35.fell 40 sen to RM15.70.
Mercury Securities expects Malaysian equities to remain volatile despite the rebound yesterday due to uncertainties surrounding the global economy.
Source: News Formal (newsformal.com)
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