Axiata and its subsidiary XL Axiata have entered into a non-binding term sheet with Asia Link Dewa and First Media to acquire around 1.8 billion shares representing 66.03 percent of the issued and paid-up capital of Link Net. Axiata holds a 66.48 percent stake in XL Axiata. Link Net is owned by Asia Link Dewa and First Media. No financial details related to the potential transaction have been disclosed.
Link Net currently provides telecom services, including cable, internet services, communication system services, network access point services, other multimedia services, telephony value added services, trading, management consultancy activities and call centre activities. The group currently provides services through a broadband communication network including distribution of TV programmes and internet through the Network in Jakarta, Bogor, Tangerang, Bekasi, Surabaya (include Malang and Gresik), Bali, Bandung, Medan, Batam, Solo, Semarang, Serang and Cilegon areas.
