KUALA LUMPUR: Axiata Group Bhd has requested for trading in its shares to be suspended pending the release of a material announcement.
Trading will be suspended from 9am until 5pm today.
The company's share price last traded at RM2.37 a share, giving it a market capitalisation of RM21.8 billion.
On Tuesday, Bloomberg reported that Axiata and Indonesian conglomerate PT Sinar Mas Group are nearing an agreement to merge their telecommunications operations in South-East Asia's largest economy, citing people familiar with the matter.
It said an announcement could be made as early as this week.
The companies have been discussing the structure of a deal that may involve a mix of cash and shares and that would create an entity with about 100 million customers.