Telenor and Axiata Group End Merger Talks

Telenor Group and Axiata Group of Malaysia have announced to end discussions relating to a non-cash merger of their telecom infrastructure assets in Asia.

It must be mentioned here that Axiata Group has presence in Pakistan through edoctco, country’s largest infrastructure sharing company.

According to a statement issued, both the groups mutually agreed to end talks, mainly due to some complexities involved in the transaction.

Both the groups were in advance stage of merger talks and had been working for last four months on due diligence and finalising transaction agreements.

We had earlier heard that deal was pretty much through and that an outcome is expected within third quarter of 2019.

However, with today announcement, the deal was officially called off with both parties acknowledging the strong strategic rationale of the merger.

Both the groups did not rule out that a future transaction could be possible.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

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