What is the combined equity interest Axiata and XL Axiata acquired?

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Axiata and XL Axiata Acquired a Combined 66.03 Per Cent Stake in Link Net

Axiata Group Bhd and PT XL Axiata Tbk have successfully completed the acquisition of a combined 66.03 per cent equity interest in PT Link Net Tbk. This transaction, which cost approximately RM2.63 billion, significantly enhances Axiata's presence in the Indonesian telecommunications market. Following the acquisition, Axiata's indirect wholly-owned subsidiary, Axiata Investments (Indonesia) Sdn Bhd, holds 46.03 per cent of the acquired stake, while XL Axiata holds the remaining 20.00 per cent.
Significant Stake Acquired in Indonesian Provider

The acquisition of 66.03 per cent of PT Link Net Tbk represents a substantial investment by Axiata and XL Axiata. Link Net is a prominent provider of high-speed broadband and cable television services in Indonesia. The company's network extends to 2.9 million homes across 23 cities, serving approximately 855,000 broadband and 837,000 cable TV customers.
Axiata's Effective Equity Interest Increased

Post-acquisition, Axiata's total effective equity interest in Link Net stands at 58.33 per cent. This is achieved through its indirect holding via Axiata Investments (Indonesia) Sdn Bhd and its stake in XL Axiata, thereby consolidating its influence and operational control over the Indonesian entity.
Mandatory Tender Offer to Follow

As per Indonesian regulatory requirements, Axiata Investments (Indonesia) Sdn Bhd will be obligated to conduct a mandatory tender offer (MTO) for the remaining 33.97 per cent equity interest in Link Net. This subsequent offer is anticipated to be finalised within the third quarter of 2022.
Strategic Milestone for Axiata's Regional Ambitions

The completion of the Link Net acquisition is viewed as a key development in Axiata's strategy to strengthen its position as a regional digital leader. This move aligns with Axiata's objective of delivering converged telecommunication services across Asia, with a particular focus on expanding its participation in Indonesia's evolving digital economy.

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What is the combined equity interest Axiata and XL Axiata acquired?

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