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 | 0.00% |
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+0.78% | -1.89% |
14/05 | PT Link Net Tbk Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
12/02 | 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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2,180 IDR | -1.36% | +0.93% | 175.05Cr | ||
38 IDR | +2.70% | +5.56% | 40.67L | ||
2.53 MYR | -1.56% | -3.07% | 493.32Cr | ||
Annual profits - Rate of surprise
1st Jan change | Capi. | |
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-1.89% | 22Cr | |
+18.60% | 22TCr | |
+9.47% | 17TCr | |
+9.56% | 13TCr | |
-9.52% | 8.16TCr | |
+26.20% | 7.44TCr | |
0.00% | 5.35TCr | |
-6.06% | 5.04TCr | |
-22.36% | 4.35TCr | |
-18.53% | 3.79TCr |
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- Axiata Eyes 66% Stake in Indonesia's Link Net