Competition Heats Up, What Are Lippo's Reasons for Selling Link Net?

By Editorial Team 19/07/2021
fiber optic network
Summary

Internet service provider PT Link Net Tbk (LINK) confirmed rumors regarding the plan to sell part of the company's shares belonging to the Lippo Group to Malaysian telecommunications company Axiata Bhd, which is also the parent company of PT XL Axiata Tbk (EXCL).

Link Net Corporate Secretary Johannes said the company's shareholders held further discussions with potential buyers regarding LINK's shares acquisition plan. "The company is currently aware of the discussions between shareholders and potential buyers. However, as of the release date of this letter, the company has not received any other information from shareholders regarding this matter," Johannes wrote to the Indonesia Stock Exchange on Friday (7/16).

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