Axiata seeks 66% stake in indonesia’s link net Malaysian telecommunications group Axiata Group Bhd is looking for a deal to buy about two-thirds of Indonesia’s PT Link Net Tbk, said in a filing with the stock exchange on Friday.
The group has a non-binding term sheet to facilitate negotiations on a possible acquisition of “1.22 billion shares” of the company and its .466.48% Indonesian subsidiary PT XL Axiata TB, Asia Linked PT Ltd. , And PT First Media TB announced. Or, hold a 66.03% stake in Linknet.
Axiata seeks 66% stake Earlier this month, Bloomberg reported that Axiata was in preliminary talks on a partnership with Jakarta-based cable TV and high-speed broadband providers, and private-equity fund CVC Capital Partners would like to withdraw from the investment.
According to a press release on the company’s website, CVC invested in Linknet in 2011.
Axiata told Reuters last year that it was considering buying a smaller competitor in a share exchange transaction to reduce costs and competition in Indonesia’s largest market.