Malaysia's Axiata seeks 66% stake in Indonesia's Link Net


KUALA LUMPUR, July 31 (Reuters): 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 on Friday (July 30).

The group said it and its 66.48% 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% shareholding in Link Net.

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

Axiata Group Berhad, commonly known as Axiata, formerly known as TM International Berhad, is a Malaysian multinational telecommunications conglomerate with extensive operations in Asia.

One of its top brands include Celcom and Axiata is one of the largest wireless carriers in the country. - Reuters
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Malaysia , Axiatam Group , Seeks , 66% Stake , Link Net , Jakarta

   

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