Malaysia Axiata buys Axis Telekom Indonesia stake from Saudi Telecom

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Malaysia's largest mobile phone operator Axiata Group Bhd said its Indonesian unit had struck a deal with Saudi Telecom Co to acquire a majority stake in PT Axis Telekom Indonesia (Axis) for an undisclosed sum.

Saudi Telecom subsidiary Teleglobal will sell a 95 percent equity stake in Axis to XL Axiata Tbk, Axiata said in a stock exchange filing on Thursday.

Axis has an enterprise value of $865 million, Axiata said.

Related:

Market Performance

Saudi Telecom Company
68.75
-3.25 -4.51 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Revealed: the best Dubai Twitter accounts to follow

Revealed: the best Dubai Twitter accounts to follow

Live in Dubai and hoping to get in on the Twitter buzz? Here...

How to get the most out of social media, by Obama's 2008 campaign manager

How to get the most out of social media, by Obama's 2008 campaign manager

David Plouffe is credited with Barack Obama’s unlikely 2008 victory...

Growth spurt for Gulf's e-commerce sector

Growth spurt for Gulf's e-commerce sector

The recent sale of Talabat.com to Germany’s Rocket Internet for...

Most Discussed