Ministry Approves XL Axiata-Axis Telekom Merger
XL Axiata, Indonesia’s third largest mobile phone operator, has secured official approval from the Ministry of Communications and Information Technology to acquire Axis Telekom Indonesia, the company’s chief confirmed on Friday.
Malaysia’s Axiata Group, which has a 66.5 percent stake in XL Axiata, has reportedly offered to acquire Axis Telecom, which is 84 percent controlled by Saudi Telecom Company.
The merger is said to give the Indonesian operator access to the mobile-phone frequencies it requires to expand in the competitive Indonesian market.
“We have received a letter of approval from the Ministry of Communications and Information,” said Hasnul Suhaimi, the president director of XL Axiata on Friday.
Details
- Publication Date
- May 17, 2014
- Language
- English
- ISBN
- 9781291878875
- Category
- Engineering
- Copyright
- All Rights Reserved - Standard Copyright License
- Contributors
- By (author): Matthias Hahn
Specifications
- Format