CK Hutchison Holdings Ltd. is in preliminary talks for a potential merger of its Indonesian telecom business with Axiata Group Bhd.'s PT XL Axiata TBK, Bloomberg News reports, citing sources.
The discussions are still at an early stage and the parties have not made any agreement on the deal structure. A transaction also remains uncertain at this point.
The deal talks come after Malaysia's Axiata and Norway's Telenor ASA ended talks to merge their Asian telecom and infrastructure assets due to deal "complexities."
Without confirming the discussion with CK Hutchison, Axiata told Bloomberg that it has "attracted a lot of suitors" for potential partnerships and acquisitions.
