Axiata Group and Telenor Group announced today that they have mutually agreed to end discussions on a possible merger due to "some complexities involved in the proposed transaction".
Both parties have agreed to end discussions regarding a non-cash combination of their telecom and infrastructure assets in Asia. Over the last four months, both parties have been working on due diligence and finalising transaction agreements to be completed within the third quarter of 2019.
Both parties still acknowledge the strong strategic rationale of the Proposed Transaction. The parties do not rule out that a future transaction could be possible.