Khazanah, Telenor halt Axiata deal talks on politics

Talks between Axiata Group Bhd.’s biggest owner and Norwegian operator Telenor ASA that were re-opened earlier this year have come to a standstill

KUALA LUMPUR: Malaysia’s political upheaval risks derailing a deal involving the nation’s biggest mobile-phone carrier, people with knowledge of the matter said.

Talks between Axiata Group Bhd.’s biggest owner and Norwegian operator Telenor ASA that were re-opened earlier this year have come to a standstill, the people said.

The change in Malaysia’s government -- at a time when Axiata is undergoing its own leadership transition -- has left executives and advisers uncertain about who’s going to push through a transaction, according to the people.