A merger of equals

Datuk Izzaddin Idris, President and Group CEO of Axiata Group (left) and Jorgen C. Arentz Rostrup, Exec. Vice President and Head of Telenor Asia (right) hold a press conference Thursday to brief the media on their talks. - CHAN TAK KONG/The Star

KUALA LUMPUR: The once-failed merger talks between Axiata Group Bhd and Norway’s Telenor ASA is back and the sweetener in the deal this time to make it more palatable is an equal shareholding of 33% by both parties.

This is a far cry from the 56.5:43.5 ratio that had been proposed in the last merger of equals in May 2019 with Telenor taking the lead to create a regional giant. However, too many hurdles saw that merger falling through.