No reason was giving for terminating the talks, but Telenor says it is open to further dealings with Axiata.
Norway's Telenor and Malaysia's Axiata Group said they had called off talks to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia on Friday, sending Telenor shares lower.
However, Telenor left the door open to a deal with Axiata, saying both companies"still acknowledge the strong strategic rationale" of the combination and"do not rule out that a future transaction could be possible". "Telenor and Axiata have been talking about synergies, and there has also been expectations on a high valuation of the planned listing, so it's natural that there is a bit of disappointment initially."
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