Telenor: in talks with Axiata to merge Asian operations

(CercleFinance.com) - Norway's Telenor and Malaysia's Axiata are in talks to combine their telecom and infrastructure assets in Asia, which could generate synergies of around 5 billion dollars.


This morning Telenor and Axiata said that they are in discussions regarding a potential non-cash combination of their Asian operations, in which Telenor would take a majority stake.

Based on equity value, Telenor will own 56.5% of the new company, while Axiata will hold a 43.5% stake.

The new company will have close to 300 million customers and will hence become one of Asia's largest mobile infrastructure companies operating approximately 60,000 towers across Asia.

Telenor and Axiata said that they are working towards finalising agreements in the third quarter of 2019.

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