Axiata gets BNM's approval on link net purchase, MTO offer proposals

KUALA LUMPUR: Axiata Group Bhd has been granted approval under Bank Negara Malaysia's Foreign Exchange Notices (consolidated) to pay Axiata Investments (Indonesia) Sdn Bhd's (All) portion of the purchase and mandatory tender offer (MTO) considerations pursuant to the acquisition of PT Link Net Tbk (Link Net) proposals.

On Jan 27, Axiata in a filing to Bursa Malaysia announced that the group and its indirect 61.48 per cent owned unit, PT XL Axiata Tbk, were jointly acquiring 66.03 per cent equity interest in Link Net and will carry out an MTO for the remaining 33.97 per cent of Link Net shares for a total purchase sum of RM3.86 billion for a 100 per cent stake.