Axiata, Sinar Mas in Early Talks for Merger of Indonesia Units [BNN Bloomberg (Canada)]
PT XL AXIATA TBK ADR (PTXKY)
NASDAQ:AMEX Investor Relations:
xlgroup.com/xl-investor-relations
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Source: BNN Bloomberg
The owners of PT XL Axiata and PT Smartfren Telecom signed a non-binding memorandum of understanding on Wednesday, according to stock exchange filings. The plan is still in the early stages of evaluation, and both Axiata and Sinar Mas seek to remain controlling shareholders of the merged entity, the companies said. The announcement confirms an earlier report by Bloomberg that the companies were discussing the structure of a potential transaction that would create a $3.5 billion entity with about 100 million customers, people familiar with the matter said. A deal could involve a mix of cash and shares, they said, asking not to be named as the process is private. A deal would add to the list of Indonesian telecom mergers over the past few years. CK Hutchison Holdings Ltd. and Qatar's Ooredoo combined their local telecom businesses in a $6 billion transaction as they sought to fend off competition. --With assistance from Elffie Chew. ©2024 Bloomberg L.P. FAANG stocks
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News
- Axiata, Sinar Mas in Early Talks for Merger of Indonesia Units [Yahoo! Finance]Yahoo! Finance
- Axiata, Sinar Mas closer to $3.5 billion telco merger in Indonesia, Bloomberg says [Yahoo! Finance]Yahoo! Finance
- Axiata, Sinar Mas closer to $3.5 bln telco merger in Indonesia, Bloomberg says [Reuters]Reuters
- Axiata, Sinar Mas Move Closer to $3.5 Billion Telco Merger [BNN Bloomberg (Canada)]BNN Bloomberg