AXIATA GROUP BERHAD (FORMERLY KNOWN AS TM INTERNATIONAL BERHAD) (“AXIATA”)
PROPOSED MERGER OF SPICE COMMUNICATIONS LIMITED (“SPICE”) AND IDEA CELLULAR LIMITED (“IDEA”) (“PROPOSED MERGER”)
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Announcement Details :
We refer to the announcements dated 25 June 2008, 7 September 2009, 14 September 2009, 30 November 2009 and 10 February 2010 as well as the Circular to Shareholders of Axiata dated 17 July 2008 in relation to, amongst others, the Proposed Merger.
On behalf of Axiata, we are pleased to announce that the Proposed Merger has been completed on 17 March 2010 following the issuance to TMI India Ltd (“TMI India”) of 165,650,992 ordinary shares of Indian Rupee (“IDR”) 10 each in Idea in exchange for 338,063,250 ordinary shares of IDR10 each in Spice held by TMI India. Accordingly, the Axiata group of companies’ equity interest in Idea has increased from 14.9% to 19.1% (or 19.0% on a fully diluted basis).
