Telenor, Axiata in talks to combine telecom operations in Asia

The Axiata headquarters building is seen in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said/Files

Norway’s Telenor ASA and Axiata Group Bhd., Malaysia’s biggest wireless carrier, are in talks to combine their Asian telecommunication operations in a “mega merger of equals” to create a company with 300 million customers in nine countries.

The proposed transaction will form an entity with sales of about $13 billion and earnings of about $5.5 billion. Potential savings, or “synergies,” from the deal would amount to about $5 billion, according to Telenor. Telenor shares rose almost 5 percent in early trading in Oslo.

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