Axiata, XL Axiata complete Link Net acquisition

In a statement, Axiata joint-acting group chief executive officers Dr Hans Wijayasuriya and Vivek Sood said the completion of the Link Net acquisition marked a significant milestone in the evolution of Axiata’s operations in the region.

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

Following the completion of the acquisition, Axiata’s indirect wholly-owned subsidiary, Axiata Investments (Indonesia) Sdn Bhd, and XL Axiata will hold 46.03% and 20% stake respectively from the combined 66.03% equity interest in Link Net previously held by Asia Link Dewa Pte Ltd and PT First Media Tbk.