UPDATE 1-Astro shares suspended amid talk of privatisation

* Trading in shares suspended until Wednesday, 5pm

* Stock up 2.3 pct ahead of trading halt in weaker market

* Dealers cite market talk that Astro could be privatised

(adds market talk, details)

KUALA LUMPUR, March 15 (Reuters) - Trading in shares of Malaysia's sole pay-TV operator Astro All Asia Networks AAAN.KL was suspended on Monday market talk the company's shareholders were planning to privatise the company.

Astro requested for trading of its shares to be suspended until Wednesday evening pending "an announcement of a corporate proposal involving the shareholders of the company".

When contacted by Reuters, a spokeswoman from Astro declined to comment on the market talk.

A restructuring within Astro has long been in the making, including market talk that major shareholders wanted to spin off its money-losing operations in India and Indonesia.

Astro's two main shareholders are privately-held Usaha Tegas, controlled by low-profile Malaysian tycoon Ananda Krishnan, and Malaysian state investment agency Khazanah Nasional. (Reporting by Julie Goh; Editing by Anshuman Daga)