Malaysia's Axiata seeks 66% stake in Indonesia's Link Net
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[KUALA LUMPUR] Malaysian telecoms group Axiata Group 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.
The group said it and its 66.48 per 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 66.03 per cent shareholding in Link Net.
Link Net is a cable television and high speed broadband internet service provider based in Jakarta.
REUTERS
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