Axiata and Telenor call off deal

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Sept 6 2019 : Axiata Group Bhd and Telenor ASA have mutually agreed to end the discussions on the proposed merger of their telecom and infrastructure assets in Asia.

In a statement today, Axiata said in the last four months, both parties have been performing their due diligence and finalising transaction agreements to be completed within the third quarter of 2019.

However, due to some complexities involved in the proposed transaction, the parties have mutually agreed to end the discussions, the group said.

Both parties still acknowledge the strong strategic rationale of the transaction and did not rule out a future transaction.

Axiata said the termination of the proposed transaction will not affect the group’s ability to achieve its Digital Champion aspirations by 2022. – Bernama



About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.