Become a new giant.
Telenor and Malaysian Axiata are in talks on a possible merger of their companies in Asia.
If the merger is completed, the new company will be one of Asia's largest telecom operators with a customer base of 300 million people and 60,000 mobile towers.
– This is a large company with almost 300 million customers and a turnover of almost 13 billion USD (about NOK 113 billion). It's as big as what Telenor is today, says Brekke according to Aftenposten.
The boss must be from Telenor
The parties want to complete the agreement by the third quarter of 2019, writes E24.
Brekke confirms that the head of the new company will come from Telenor. When asked whether Brekke himself is a current candidate, he answers the following:
– I have a great job today.
The head of Telenor brought the news during a conference call for analysts and the press. There it was emphasized that the negotiations are at a very early stage and that it is not certain that the merger will be held.
Telenor believes that any merger can create huge synergies of value. They estimate the value to be $ 5 billion, equivalent to $ 43 billion.
The new company created as a result of a merger will be listed on an international stock exchange, according to Telenor. In addition, it will be listed on the Malaysian stock exchange Bursa Malaysia.
Telenor is already big in Asia, but if this merger is carried out, it will be able to increase considerably the area of impact.
According to the Norwegian mobile phone giant, the plan is for Axiata to own 43.5 percent of the new company, while Telenor will hold 56.5 percent.
Aftenposten / E24