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Norway's Telenor plans Asian telecoms merger with Axiata

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Telenor's logo is seen in central Belgrade

Telenor's logo is seen in central Belgrade, Serbia, March 21, 2018. REUTERS/Marko Djurica/Files

OSLO (Reuters) - Norway's Telenor is in negotiations with Malaysia's Axiata Group to form a telecoms holding company with close to 300 million customers, the companies said on Monday.

If a deal is finalised, the merged business will likely be owned 56.5 percent by the Norwegian mobile operator and 43.5 percent by Axiata, they added.

(Reporting by Terje Solsvik, Editing by Sherry Jacob-Phillips)