AIRLINK 63.78 Increased By ▲ 1.58 (2.54%)
BOP 6.14 Decreased By ▼ -0.09 (-1.44%)
CNERGY 4.87 Decreased By ▼ -0.12 (-2.4%)
DFML 14.94 Increased By ▲ 0.04 (0.27%)
DGKC 66.99 Decreased By ▼ -2.00 (-2.9%)
FCCL 17.39 Decreased By ▼ -0.34 (-1.92%)
FFBL 24.93 Increased By ▲ 0.33 (1.34%)
FFL 9.18 Decreased By ▼ -0.03 (-0.33%)
GGL 10.23 Increased By ▲ 0.33 (3.33%)
HBL 108.24 Decreased By ▼ -0.26 (-0.24%)
HUBC 116.75 Increased By ▲ 0.25 (0.21%)
HUMNL 6.63 Decreased By ▼ -0.07 (-1.04%)
KEL 4.41 Decreased By ▼ -0.05 (-1.12%)
KOSM 4.65 Decreased By ▼ -0.07 (-1.48%)
MLCF 35.87 Decreased By ▼ -1.03 (-2.79%)
OGDC 123.07 Decreased By ▼ -0.23 (-0.19%)
PAEL 22.94 Increased By ▲ 0.50 (2.23%)
PIAA 23.89 Increased By ▲ 1.67 (7.52%)
PIBTL 5.77 Increased By ▲ 0.02 (0.35%)
PPL 111.09 Increased By ▲ 0.19 (0.17%)
PRL 27.60 Increased By ▲ 0.03 (0.11%)
PTC 15.25 Increased By ▲ 1.06 (7.47%)
SEARL 53.02 Decreased By ▼ -0.23 (-0.43%)
SNGP 63.34 Decreased By ▼ -0.41 (-0.64%)
SSGC 10.83 Decreased By ▼ -0.17 (-1.55%)
TELE 9.23 Increased By ▲ 0.28 (3.13%)
TPLP 10.97 Increased By ▲ 0.24 (2.24%)
TRG 71.43 Increased By ▲ 1.13 (1.61%)
UNITY 25.00 Increased By ▲ 0.80 (3.31%)
WTL 1.38 Increased By ▲ 0.02 (1.47%)
BR100 6,751 Increased By 52.9 (0.79%)
BR30 22,646 Increased By 28.2 (0.12%)
KSE100 65,503 Increased By 612.1 (0.94%)
KSE30 21,721 Increased By 185.1 (0.86%)
Business & Finance

Telenor still looking to be acquired after failed deal with Malaysian company

Deal between Telenor's Asian business and Malaysia's Axiata Group failed earlier. Telenor Pakistan would also h
Published October 23, 2019
  • Deal between Telenor's Asian business and Malaysia's Axiata Group failed earlier.
  • Telenor Pakistan would also have been merged into Malaysia's Axiata Group under a new joint venture, but the deal failed to materialize.

OSLO - Norwegian telecoms firm Telenor ASA said it is still interested in potential mergers and acquisitions following the failed deal between its Asian business and Malaysia's Axiata Group.

"We will be looking at value-creating opportunities," Chief Executive Sigve Brekke told a conference call on Wednesday. He declined to elaborate on what those opportunities could be.

Telenor and Axiata in September called off their proposed deal to create a telecoms joint venture with nearly 300 million customers across South Asia and Southeast Asia, blaming "complexities" in the project.

The Norwegian firm recently completed a takeover of Finnish telecoms operator DNA and on Tuesday announced the planned merger of its Canal Digital TV distribution business with Sweden's Nordic Entertainment Group AB.

"We are value driven at anything we do on mergers and acquisitions ... We were value driven in DNA, value driven in Axiata and we will be value driven in anything else we do," Brekke said.

Earlier on Wednesday, Telenor reported third-quarter profits in line with analysts' forecasts and reiterated its full-year outlook. The company said it will present an updated strategy in late January 2020.

Telenor's shares were down 0.9% after the results at 0849 GMT, underperforming a 0.3% drop in the Oslo benchmark index.

Comments

Comments are closed.