Telenor: scraps Asia combination plans with Axiata
(CercleFinance.com) - Norway's Telenor and Malaysia's Axiata have scrapped plans to combine their telecom and infrastructure assets in Asia, due to the complexities of the deal, the companies said on Friday.
Without giving more details, the telecommunications groups said they still acknowledge the strong strategic rationale behind the deal, and do not rule out that a future transaction could be possible.
Over the last four months, they have been working on due diligence and finalising transaction agreements to be completed in the third quarter of 2019.
Telenor and Axiata said in May that they were in talks to combine their telecom and infrastructure assets in Asia, which could have led to a company with 300 million customers and approximately 60,000 towers.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Without giving more details, the telecommunications groups said they still acknowledge the strong strategic rationale behind the deal, and do not rule out that a future transaction could be possible.
Over the last four months, they have been working on due diligence and finalising transaction agreements to be completed in the third quarter of 2019.
Telenor and Axiata said in May that they were in talks to combine their telecom and infrastructure assets in Asia, which could have led to a company with 300 million customers and approximately 60,000 towers.
Copyright (c) 2019 CercleFinance.com. All rights reserved.