Axiata, XL Axiata complete acquisition of 66.03% stake in Link Net

KUALA LUMPUR: Telecommunication giant, Axiata Group Bhd (Axiata) and PT XL Axiata Tbk (XL Axiata) today completed the acquisition of the combined 66.03 per cent equity interest in PT Link Net Tbk (Link Net) for approximately RM2.63 billion.

Following the completion of the acquisition, Axiata’s indirect wholly-owned subsidiary, Axiata Investments (Indonesia) Sdn Bhd, and XL Axiata will hold 46.03 per cent and 20.00 per cent stake respectively from the combined 66.03 per cent equity interest in Link Net previously held by Asia Link Dewa Pte Ltd and PT First Media Tbk.