trending Market Intelligence /marketintelligence/en/news-insights/trending/BbHggzh23bs6KrqyrDTGng2 content esgSubNav
In This List

Report: Axiata not reviving merger talks with Telenor

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future

Podcast

Next in Tech | Episode 48: The everything that is Industrial IoT


Report: Axiata not reviving merger talks with Telenor

Malaysian telecommunications conglomerate Axiata Group Bhd. is not revisiting a proposed merger with Norway-based Telenor ASA, The Malaysian Reserve reported, citing a source familiar with the matter.

The news comes less than a week after reports surfaced that Telenor and Khazanah Nasional Bhd. are in talks again about a potential transaction involving Axiata. The report said one of the scenarios being considered is Telenor buying part of the wealth fund's nearly 37% stake in Axiata.

In response to the media reports, the source said there are no new deal talks between the parties and all recent news of a possible merger are "unsubstantiated rumors."

Axiata and Telenor in 2019 called off discussions regarding a noncash combination of their Asian operations due to deal complexities.

The transaction would have merged the companies' telecom and infrastructure assets into a new entity to be owned 56.5% by Telenor and 43.5% by Axiata. The merged entity was envisioned to become the largest telco group in the emerging Asia-Pacific.