Malaysia's Axiata seeks 66% stake in Indonesia's Link Net
- Country:
- Malaysia
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 66.48% 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 66.03% shareholding in Link Net. Link Net is a cable television and high-speed broadband internet service provider based in Jakarta.
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