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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyToday at 1:02 pm by LSE

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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyFri Jan 24, 2020 7:05 am by nihal123

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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyTue Jan 21, 2020 10:17 am by කිත්සිරි ද සිල්වා

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» Dialog Finance
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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyMon Jan 06, 2020 2:41 pm by කිත්සිරි ද සිල්වා

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» How to get Access to: 104 Technical trading experiments by HUNTER
Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyThu Jan 02, 2020 9:20 am by Admin

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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyTue Dec 31, 2019 6:33 pm by nihal123

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» Thought for the day...
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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyThu Dec 26, 2019 9:15 am by කිත්සිරි ද සිල්වා

» Why (Happy) People Cheat?
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» 65 Ways to Make Money Online
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» Sri Lanka to up employer EPF contribution to 15-pct, start social security fund
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» Sri Lanka can resume high growth path, cut more taxes: Mark Mobius
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Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyWed Dec 11, 2019 11:18 am by The Invisible

» Equation of Happiness Solved
Telenor and Dialog Axiata's parent in talks to merge Asian businesses EmptyTue Dec 10, 2019 5:23 pm by Backstage

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Telenor and Dialog Axiata's parent in talks to merge Asian businesses

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Telenor and Dialog Axiata's parent in talks to merge Asian businesses Empty Telenor and Dialog Axiata's parent in talks to merge Asian businesses

Post by Backstage on Mon May 06, 2019 1:50 pm

Telenor and Dialog Axiata's parent in talks to merge Asian businesses
May 06, 2019

AFP - Norwegian telecom operator Telenor said Monday it has entered into talks with Malaysian telecoms group Axiata about a potential merger of the companies' Asian operations.

The deal would see the two companies combine their telecom and infrastructure assets into a new company, of which Telenor would own 56.5 percent and Axiata the remaining 43.5 percent, Telenor said in a statement, adding that these figures were subject to change.

According to Telenor, which operates in the Nordic nations as well as Eastern Europe and Asia, the combined businesses would have close 300 million customers in nine different countries, making it one of the largest mobile infrastructure companies operating in Asia.

Telenor said it wants the new company to take an "active role in accelerating technology transformation and digitalisation" across Asia.

"Together, we aim to create a leading and well-diversified pan-Asian telecom and infrastructure company with substantial synergy potential and strong regional operations," Gunn Waersted, chair of Telenor Group, said in a statement.

Telenor currently operates in Thailand, Malaysia, Bangladesh, Pakistan and Myanmar, while Axiata has operating companies in Malaysia, Bangladesh, Cambodia, Nepal, Sri Lanka and Indonesia, however Axiata's mobile business in Bangladesh, Robi, would be excluded from the deal and independently managed by Axiata.

The two companies hope the agreement, which needs both regulatory and shareholder approval, can be finalised within the third quarter of this year.

The new company would have its operational headquarters in Kuala Lumpur and was planned to be listed on an international stock exchange as well as on Bursa Malaysia.

Axiata's share price rose 2.3 percent following the announcement on Monday.
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