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BRIEF-Axiata Group To Combine Asian Operations With Telenor

May 6 (Reuters) - Axiata Group Bhd:

* AXIATA AND TELENOR TO COMBINE ASIAN OPERATIONS

* TELENOR AND AXIATA WILL WORK TOWARDS BINDING AGREEMENT IN RELATION TO PROPOSED TRANSACTION BY END OF Q3, 2019

* TELENOR WILL BE MAJORITY SHAREHOLDER OF THE MERGEDCO ANTICIPATED TO OWN 56.5% AND AXIATA WILL OWN 43.5%

* ROBI AXIATA , UNIT OF CO OPERATING IN BANGLADESH, SHALL CONTINUE TO BE MANAGED INDEPENDENTLY BY AXIATA POST COMPLETION OF TRANSACTION

* PARTIES ALSO STATED STIPULATED INTENTION TO LIST MERGEDCO ON BURSA MALAYSIA & ANOTHER MAJOR INTERNATIONAL EXCHANGE WITHIN NEXT FEW YEARS

* MERGED CO WILL HAVE PROFORMA REVENUE OF OVER 50 BILLION RGT AND EBITDA OF MORE THAN 20 BILLION RGT

* PARTIES INDICATED THAT THERE IS NO CERTAINTY PROPOSED TRANSACTION WILL RESULT IN ANY BINDING AGREEMENT

* PROPOSED TRANSACTION HAS POTENTIAL TO DELIVER UP TO AROUND 20 BILLION RGT INCREMENTAL VALUE IN SYNERGIES

* PROPOSED TRANSACTION TO MERGE CELCOM AXIATA AND DIGI.COM

* PROPOSED TRANSACTION TO MERGE EDOTCO GROUP SDN BHD AND TELENOR’S ASIAN TOWER ASSETS Source text (https://bit.ly/2DNOmmA) Further company coverage: