Khazanah's Axiata in deal with Norway's Telenor in major Asian telco tie-up

KUALA LUMPUR - Sovereign wealth fund Khazanah Nasional is set to monetise its stake in telco giant Axiata in a deal with Norway's Telenor, with a major tie-up of their Asian operations to be announced on Monday (May 6).

Both companies' Malaysian-listed firms suspended from trade on Monday ahead of the deal, which comes just three months after Axiata offloaded its stake in Singapore’s M1 to Singapore Press Holdings and Keppel consortium in February.

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