JAKARTA. Malaysian-based telephone operator Axiata Group Bhd through its Indonesian subsidiary PT XL Axiata Tbk has reached a deal with Saudi Telecom Co. to acquire PT Axis Telekom Indonesia. Saudi Telecom Co. sold 95 percent of its shares in Axis to XL, whose business is valued at US$865 million. Previously, XL has gained permission from the Communication and Telecommunication Ministry to conduct the acquisition on Axis.
XL acquires Axis
JAKARTA. Malaysian-based telephone operator Axiata Group Bhd through its Indonesian subsidiary PT XL Axiata Tbk has reached a deal with Saudi Telecom Co. to acquire PT Axis Telekom Indonesia. Saudi Telecom Co. sold 95 percent of its shares in Axis to XL, whose business is valued at US$865 million. Previously, XL has gained permission from the Communication and Telecommunication Ministry to conduct the acquisition on Axis.