XL Axiata’s Acquisition: Which One?

By Editorial Team 27/05/2020
Merger
Summary

The Malaysia-based telecommunications giant, Axiata Group Bhd, plans to acquire an Indonesian telecommunication operator. The target was reportedly smaller than PT XL Axiata Tbk (EXCL), Axiata’s subsidiary in Indonesia.

Axiata Chief Executive Officer (CEO) Jamaludin Ibrahim revealed that the acquisition’s objective was to reduce cost and competition in the market. “Except for the biggest players, I can tell you right now we are talking to all for some kind of an arrangement,” he said as cited by Reuters on Tuesday (5/26).

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