Malaysia’s Axiata on Thursday, August 29, stated its planned merger with Norwegian peer Telenor is on track, after local media reported the deal may have hit a snag.
Axiata group CEO Jamaludin Ibrahim at an earnings briefing said discussions with Telenor are likely to take three to six months, with a target to conclude talks by November.
“We want to make sure we protect our national and staff interests. That doesn’t mean there are hiccups or issues,” said Mr Jamaludin, adding he was optimistic the deal would succeed.
“This is the single biggest M&A (merger and acquisition) in 20 years in the whole region except North Asia. This is huge, unheard of. It’s not about problems, it’s about complexity.”
Full Content: Business Times
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