Axiata, Telenor in merger talks to create telecoms giant

Malaysia's Axiata Group Berhad says it is in talks with Norway's Telenor ASA to merge their Asian operations to create one of the world's top telecommunications giants with some 300 million customers in nine countries.

Axiata said in a statement Monday that Telenor is expected to hold a 56.5 percent stake and Axiata 43.5 percent in the proposed "merger of equals."