Malaysia Axiata buys Axis Telekom Indonesia stake from Saudi Telecom

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
55.25
0.0 0.0 (%)
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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
How technology is revving up the future of driving

How technology is revving up the future of driving

Technology firms have been investing in autonomous driving for...

A printed future: the 3D revolution

A printed future: the 3D revolution

Imagine printing a new house, jewellery, even a healthy heart...

Understanding blockchain and its growing importance in the UAE

Understanding blockchain and its growing importance in the UAE

Project Pen’s John Lillywhite talks to Moe Levin, founder of...

2
Most Discussed
sponsoredTracking