Axiata's proposed Link Net acquisition to create new synergies

KUALA LUMPUR: Axiata Group Bhd's proposal to acquire a 66.03% stake in one of Indonesia's leading providers of high-speed broadband and cable TV could unlock synergies for the telco group.

The group announced in a bourse filing yesterday that it has proposed to acquire PT LInk Net Rbk for IDR8.7 trillion (RM2.5bil) or IDR4,800/share via indirect wholly owned subsidiary Axiata Investments (Indonesia) Sdn Bhd and 61.48%-owned PT XL Axiata Tbk.