News Formal

Axiata, Sinar Mas closer to $3.5 billion telco merger in Indonesia, Bloomberg says

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 12 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Malaysian conglomerate Axiata Group and Indonesian group PT Sinar Mas are going ahead with plans to merge their telecom operations in Indonesia to create a $3.5 billion entity, Bloomberg News reported, citing people familiar with the matter.

FILE PHOTO: A general view of the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng/File Photo

A non-binding agreement may be reached in the coming months, allowing the companies to continue negotiations and carry out due diligence, the report said, adding that there was no guarantee that a deal would go through.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China’s BYD pulls ahead of Tesla in Indonesia’s EV marketCompetitive pricing, tax waivers secured Chinese carmaker's footing in the South-east Asian nation.
Source: straits_times - 🏆 5. / 69 Read more »