Axiata, Telenor call off merger plan

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Telenor cites 'complexities” as the reason for the halt. FMTNews

KUALA LUMPUR: Axiata Group Bhd and Telenor ASA agreed to end talks on merging their Asian telecommunication operations, scrapping an effort to create a company with 300 million customers across nine countries.

Telenor cited “complexities” as the reason for the halt, without elaborating. Telenor shares slid as much as 7% in early Oslo trading. The decision to quash the deal comes months after Prime Minister Dr Mahathir Mohamad questioned how combining the companies would affect employment.

 

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