Axiata seeks 66pc stake in Indonesia’s Link Net

A general view of the Axiata headquarters building in Kuala Lumpur October 1, 2019. — Reuters pic
A general view of the Axiata headquarters building in Kuala Lumpur October 1, 2019. — Reuters pic

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KUALA LUMPUR, July 30 — Malaysian telecoms group Axiata Group Bhd is exploring a deal to acquire an equity holding of almost two thirds of Indonesia’s PT Link Net Tbk shares, it said in a stock exchange filing today.

The group said it and its 66.48 per cent Indonesian subsidiary, PT XL Axiata Tbk, entered into a non-binding term sheet with Asia Link Dewa Pte Ltd and PT First Media Tbk “to facilitate discussions and negotiations for a potential acquisition” of 1.82 billion shares or a 66.03 per cent shareholding in Link Net.

Link Net is a cable television and high speed broadband internet service provider based in Jakarta. — Reuters

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