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The Jakarta Globe Axis Capital Group Telecom Purchase XL Axiata

ByMatthias Hahn

Jakarta. XL Axiata, the second-largest telecommunication operator in Indonesia, may sell some of its tower assets to raise funds for lowering debt that is expected to increase after taking out loans to finance its acquisition of Axis Telekom Indonesia. Jakarta-based XL gained shareholder approval on Wednesday to acquire a 95 percent stake of Axis from Saudi Telecom Company for $865 million. To finance the acquisition, XL has secured $500 million in loans from parent company Axiata Group of Malaysia, and it will secure the remaining $365 million in loans from banks. Last year, it secured $300 million in debt from DBS Group Holdings, which it used mostly to finance its operation and partly to fund the acquisition.

Details

Publication Date
May 16, 2014
Language
German
ISBN
9781291877618
Category
Engineering
Copyright
All Rights Reserved - Standard Copyright License
Contributors
By (author): Matthias Hahn

Specifications

Format
PDF

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