Axiata, Telenor to end talks on merging Asian telecom operations

FILE PHOTO - A security officer guards in front of the Axiata headquarters building in Kuala Lumpur May 28, 2014. REUTERS/Samsul Said

Axiata Group Bhd. and Telenor ASA agreed to end talks on merging their Asian telecommunication operations, scrapping an effort to create a company with 300 million customers across nine countries.

Both companies agreed to end discussions, Oslo-based Telenor said in a statement Friday, confirming an earlier Bloomberg News report. Telenor cited “complexities” as the reason for the halt, without elaborating. Telenor shares slid as much as 7% in early Oslo trading.

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