Axiata Group Berhad (KLSE:AXIATA) has proposed the acquisition of a 66.3% stake in PT Link Net Tbk (IDX:LINK), an internet service and cable television provider in Indonesia. Axiata said it and its 66.48%-owned Indonesian unit PT XL Axiata Tbk (IDX:EXCL) have signed a non-binding term sheet with Indonesia's PT First Media Tbk (IDX:KBLV) and Asia Link Dewa Pte. Ltd. to initiate negotiations for a potential acquisition of the Link Net stake. The parties will use their best endeavours to negotiate in good faith and execute a definitive agreement, subject to the fulfilment of conditions to signing, the telecoms group said in a Bursa Malaysia filing. If the definitive agreement is signed and subject to the fulfilment of the condition precedent under the definitive agreement, this will result in a change of control in Link Net. [Following this], Axiata and/or XL will be required to conduct a mandatory tender offer to purchase the remaining shares in Link Net pursuant to Regulation on Acquisition of Public Companies issued by the Indonesian Financial Services Authority, said Axiata.
End-of-day quote
Other stock markets
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5-day change | 1st Jan Change | ||
1,300 IDR | +0.39% |
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0.00% | -1.89% |
May. 14 | PT Link Net Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
Feb. 12 | PT Link Net Tbk Reports Earnings Results for the Full Year Ended December 31, 2023 | CI |
Stocks mentioned in the article
Price
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Change
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5d. change
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Capi.
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2,210 IDR | +1.84% | +0.45% | 1.77B | ||
37 IDR | 0.00% | +2.78% | 3.95M | ||
2.57 MYR | -2.28% | +1.18% | 5.01B | ||
Annual profits - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
-1.89% | 219M | |
+18.98% | 218B | |
+9.07% | 173B | |
+9.20% | 127B | |
-9.40% | 82.23B | |
+26.20% | 74.3B | |
+1.27% | 54.36B | |
-6.06% | 50.43B | |
-22.49% | 43.39B | |
-18.23% | 38.07B |
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- Axiata Eyes 66% Stake in Indonesia's Link Net