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Axiata says merger plan with Norway's Telenor on track

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Axiata says there will be 'generally no change' to the shareholding structure of the deal or to top management appointments. FMTNews

KUALA LUMPUR: Axiata Group Bhd on Thursday said its planned merger with Norwegian telecoms peer Telenor ASA is on track, after local media reported the deal may have hit a snag.

“We want to make sure we protect our national and staff interests. That doesn’t mean there are hiccups or issues,” said Jamaludin, adding he was optimistic the deal would succeed. Axiata and Telenor in May said they would begin talks to run a jointly owned telecoms giant in South and Southeast Asia serving nearly 300 million customers, as they seek growth in an ever-competitive market.

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