Axiata said to be eyeing stake in Indonesia's Link Net

M1's largest shareholders, which also include Malaysia's Axiata(pic) Group, had considered but eventually called off a strategic review of their holdings in the telecommunication provider last year, saying parties interested in buying those stakes did not meet certain criteria.

KUALA LUMPUR: Axiata Group Bhd is considering acquiring a stake in PT Link Net, the Indonesian internet provider backed by CVC Capital Partners, according to people with knowledge of the matter.

Axiata’s listed Indonesian unit PT XL Axiata has started talks with major shareholders of Link Net about a potential deal, the people said, asking not to be identified because the process is private. XL Axiata is working with an adviser as it explores the purchase of about a 40% stake, said one of the people.