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Malaysia's Axiata seeks 66per cent stake in Indonesia's Link Net

Malaysian telecoms group Axiata Group Bhd is exploring a deal to acquire an equity holding of almost one third of Indonesia's PT Link Net Tbk shares, it said in a stock exchange filing on Friday.

Malaysia's Axiata seeks 66per cent stake in Indonesia's Link Net

FILE PHOTO: A general view of the Axiata headquarters building in Kuala Lumpur, Malaysia, October 1, 2019. REUTERS/Lim Huey Teng

(Corrects to clarify Axiata seeks holding of almost two thirds, not one third)

KUALA LUMPUR: Malaysian telecoms group Axiata Group Bhd is exploring a deal to acquire an equity holding of almost two thirds of Indonesia's PT Link Net Tbk shares, it said in a stock exchange filing on Friday.

The group said it and its 66.48per cent Indonesian subsidiary, PT XL Axiata Tbk, entered into a non-binding term sheet with Asia Link Dewa Pte Ltd and PT First Media Tbk "to facilitate discussions and negotiations for a potential acquisition" of 1.82 billion shares or a 66.03per cent shareholding in Link Net.

Link Net is a cable television and high speed broadband internet service provider based in Jakarta.

(Reporting by Liz Lee; Editing by James Pearson)

Source: Reuters

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