TEL

Axiata, Telenor sign deal to merge Malaysian telecoms units

Credit: REUTERS/LIM HUEY TENG

Malaysian telecoms firm Axiata Group Bhd and Norway's Telenor ASA have agreed to merge their mobile operations in Malaysia, forming a new market leader in the southeast Asian nation, the two firms said on Monday.

OSLO, June 21 (Reuters) - Malaysian telecoms firm Axiata Group Bhd AXIA.KL and Norway's Telenor ASA TEL.OL have agreed to merge their mobile operations in Malaysia, forming a new market leader in the southeast Asian nation, the two firms said on Monday.

The planned transaction, which remains subject to regulatory and other approvals, is expected to be completed by the second quarter of 2022, the firms said.

(Reporting by Terje Solsvik; Editing by Christopher Cushing)

((terje.solsvik@thomsonreuters.com; +47 918 666 70))

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