Malaysia's Axiata and PT Sinar Mas discuss potential merger of Indonesian telecom operations to create a $3.45B entity.

Malaysia's Axiata Group and conglomerate PT Sinar Mas Group are in early talks for a potential merger of their Indonesian telecommunications operations, aiming to create a $3.45 billion entity. The companies signed a non-binding memorandum of understanding and will remain controlling shareholders of the merged entity. This follows the recent merger trend in the Indonesian telecom sector.