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4 years ago
Malaysia's Axiata buys majority stake in PT Axis Telekom Indonesia
September 26, 2013 / 5:05 AM / 4 years ago

Malaysia's Axiata buys majority stake in PT Axis Telekom Indonesia

1 Min Read

KUALA LUMPUR, Sept 26 (Reuters) - Malaysia's largest mobile phone operator Axiata Group Bhd said its Indonesian unit has struck a deal with Saudi Telecom Co to acquire a majority stake in PT Axis Telekom Indonesia (Axis) for an undisclosed sum.

Saudi Telecom subsidiary Teleglobal will sell a 95 percent equity stake in Axis to XL Axiata Tbk, Axiata said in a stock exchange filing on Thursday.

Axis has an enterprise value of $865 million, Axiata said.

Reporting by Niluksi Koswanage; Editing by Miral Fahmy

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