Axiata gets shareholder nod for Indonesia’s Link Net stake buy

Axiata group chairman Tan Sri Shahril Ridza Ridzuan said the remaining 42% of shareholders that voted against the deal were concerned with the impact of the acquisition on the group’s balance sheet.

PETALING JAYA: Axiata Group Bhd has received the green light from 58% of its shareholders for the proposed acquisition of a 66% stake in Indonesia’s PT Link Net Tbk for 8.72 trillion rupiah (RM2.6bil).

Axiata group chairman Tan Sri Shahril Ridza Ridzuan said the remaining 42% of shareholders that voted against the deal were concerned with the impact of the acquisition on the group’s balance sheet.