Axiata hopes to complete proposed merger exercise with PT Sinar Mas by year-end

KUALA LUMPUR: Axiata Group Bhd is hoping the proposed merger excercise between its wholly owned Indonesian subsidiary PT XL Axiata Tbk and PT Smartfren Telecom Tbk, a subsidiary of PT Sinar Mas, could be concluded by the end of this year.

Group chief executive officer and managing director Vivek Sood said that based on past experience, the group is optimistic on the timeline but the merger excercise usually takes some time as both parties need to know more about their future partner.