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Norwegian telco Telenor Group and Malaysia-based Axiata Group have announced their discussions regarding a prospective non-cash merger of their telecom and infrastructure assets in Asia, in which Telenor would take a majority stake. Telenor and Axiata’s jointly owned telecommunications giant MergeCo would combine the two companies’ operations in South and Southeast Asia, and in its headquarters in Malaysia would serve almost 300 million customers using approximately 60,000 communication towers located across Asia. Gunn Wærsted, Chair of Telenor Group, said: “Today we announce that Telenor and Axiata are in discussions on joining forces in Asia, one of the most dynamic and innovative regions in the world. Together, we aim to create a leading and well-diversified pan-Asian telecom and infrastructure company with substantial synergy potential and strong regional operations. It is Telenor’s strategy to develop and create value from our core telco assets in the Nordic and Asian region. This potential merger…