KUALA LUMPUR, July 30 — Axiata Group Bhd and its 66.48 per cent subsidiary PT XL Axiata Tbk has entered into a non-binding term sheet for the proposed acquisition of approximately 66.03 per cent of Indonesia's PT Link Net Tbk (Link Net).
In a filing with Bursa Malaysia today, Axiata said the company and PT XL Axiata Tbk inked the agreement 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 in Link Net.
Link Net is engaged in telecommunication activities by cable, Internet service provider, communication system services, network access point services, other multimedia services, telephony value added services, trading, management consultancy activities and call centre activities.
The group currently provides services through a broadband communication network including distribution of television programmes and high-speed Internet through the network in Jakarta, Bogor, Tangerang, Bekasi, Surabaya, Bali, Bandung, Medan, Batam, Solo, Semarang, Serang and Cilegon areas, Axiata said.
— Bernama
