Axiata, Sinar Mas revive talks on Indonesia subsidiary deal

The owners of PT XL Axiata and PT Smartfren Telecom are working with advisers to help weigh a potential transaction, sources said. — Bloomberg

KUALA LUMPUR: Malaysia’s biggest wireless carrier Axiata Group Bhd and Indonesian conglomerate PT Sinar Mas Group have revived talks that could lead to a merger of their telecommunications operations in Indonesia, according to people familiar with the matter.

The owners of PT XL Axiata and PT Smartfren Telecom are working with advisers to help weigh a potential transaction, the people said, asking not to be identified because the matter is private. Other options under consideration could include network sharing agreements and partnerships, the people said.