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The Axis Telecom Capital Group Indonesia Jakarta Globe News
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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... More > 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.< Less
The Jakarta Globe Axis Capital Group Telecom Purchase XL Axiata
eBook (PDF): $9.65
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... More > 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.< Less
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