Axiata Telenor mega telco merger collapses

AN intense four-month courtship to create a pan-Asian telecoms giant has ended in a break-up rather than a marriage.

Executives and consultants involved had been holed up on one floor of the Axiata Tower trying to hammer out a deal since a merger of the Asian assets of Axiata Group Bhd and Norway’s Telenor Group was first announced in May.

Interestingly, new suitors for Axiata are already knocking on its door. One big telco name is making an offer for Axiata’s Indonesian business at a price higher than what it was valued at in the Axiata-Telenor structure. Another giant, likely from China, is very keen on Axiata’s South Asian assets, namely, Sri Lanka and Bangladesh.