Dhaka, May 6 (UNB) - Telenor Group and Axiata Group Berhad have been discussing to combine their telecom and infrastructure assets in Asia (MergeCo), in which Telenor would take a majority stake.
It is anticipated that Telenor, based on equity value, will own 56.5% in MergeCo and Axiata will own 43.5%, said a press release.
The parties were aiming to create a leading, well diversified Pan-Asian telco with operations in nine countries with a total population of close to one billion people.
Telenor’s Asian footprint includes Thailand, Malaysia, Bangladesh, Pakistan and Myanmar. Axiata has operating companies in Malaysia, Bangladesh, Cambodia, Nepal, Sri Lanka and Indonesia, and the tower business edotco.