Axiata and Telenor have agreed to end discussions on the Proposed Transaction

(Fornebu,6 September 2019) Axiata Group Berhad and Telenor Group have mutually agreed to end discussions regarding a non-cash combination of their telecom and infrastructure assets in Asia (the "Proposed Transaction").

Over the last four months, both parties have been working on due diligence and finalising transaction agreements to be completed within the third quarter of 2019. Due to some complexities involved in the Proposed Transaction, the parties have mutually agreed to end the discussions.

Both parties still acknowledge the strong strategic rationale of the Proposed Transaction. The parties do not rule out that a future transaction could be possible.

The parties do not intend to provide further comments.

Media contact:
Hanne Knudsen
VP, Telenor Group Communications
M: +4790804015 | hanne.knudsen@telenor.com