By Scott Kanowsky
Investing.com — Shares in Telenor ASA (OL:TEL) rose on Friday after the Monetary Instances reported that CK Hutchison Holdings Ltd (HK:0001) was in negotiations with the Scandinavian telecoms group about merging its operations in Sweden and Denmark.
Citing two individuals accustomed to the matter, the paper mentioned talks between the Norway-based Telenor and Hong Kong-listed CK Hutchison are of their early phases and no choice has but been reached.
CK Hutchinson didn’t instantly reply to the FT’s request for remark whereas Telenor declined to remark.
Analysts at New Road Analysis mentioned a tie-up within the two international locations could be considered as “broadly optimistic” for each corporations ought to the provide phrases be honest.
The report comes as telecom corporations throughout Europe are eyeing potential mergers in a bid to safe the investments wanted to improve key infrastructure.
On Thursday, CK Hutchison mentioned it was near a mix with Three UK and Vodafone (LON:VOD), in a deal that might create Britain’s largest cellular operator. Elsewhere, MasMovil in Spain and Orange (EPA:ORAN) have additionally proposed a merger.
Nonetheless, it stays unsure if regulators across the continent will enable these strikes to be finalized.
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Telenor climbs on report of merger talks with CK Hutchison in Denmark, Sweden
