XL Acquires Link Net, Here's the Potentials

By Editorial Team 02/08/2021
fiber optic network
Summary

The news about Axiata Group's acquisition of PT Link Net Tbk (LINK) has finally been confirmed. PT XL Axiata Tbk (EXCL) and its parent company, Axiata Group Berhad, announced plans to acquire 1.82 billion shares or equivalent to 66.03 percent of the paid-in capital of Lippo Group's Link Net.

XL and Axiata have signed a non-binding term sheet to buy 66.03 percent of Link Net's shares. XL and Axiata will buy Link Net shares from existing shareholders, Asia Link Dewa Pte Ltd and PT First Media Tbk (KBLV).

"When the takeover plan is complete, XL or XL and Axiata will become the new controlling shareholders of Link Net and will carry out a mandatory tender offer," Ranty Astari Rachman, XL Axiata Corporate Secretary, said in an information disclosure to the regulator.

EXCL revealed that Link Net's acquisition aims to develop and expand its business network and strengthen XL and Axiata's business position in telecommunications services providers.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.