EXCL - PT. XL Axiata Tbk

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JAKARTA - PT XL Axiata Tbk (EXCL) plans to acquire residential business (B2C) unit and rent 3.3 million home passes of PT Link Net Tbk (LINK) for IDR 1.87 trillion in total. This transaction is said to strengthen EXCL’s plan to integrate its mobile and fixed broadband (FBB) businesses.

In the information disclosure quoted Monday (27/5), B2C unit to be acquired by EXCL includes ISP, IPTV, and PayTV businesses, as well as cloud storage, entertainment, and smart home users. The total transaction is equal to 7.07% of EXCL’s equity as of December 2023 of IDR 26.5 trillion.

The transaction between LINK and EXCL is categorised as affiliate transaction, as they share the same shareholder, Axiata Investments (Indonesia) Sdn, Bhd.

EXCL records authorised capital of IDR 2.26 trillion, as well as issued and paid-up capital of IDR 1.31 trillion. Axiata Investments claim 66.25% of issued and paid-up capital of EXCL, followed by public shareholders of 33.32% and treasury stock of 0.43%.

Meanwhile, LINK books authorised capital of IDR 804 billion, as well as issued and paid-up capital of IDR 286.31 billion, 76.42% of which belong to Axiata Investments. EXCL controls another 19.22%, followed by public investors of 0.46% and treasury stock of 3.9%. (LK/ZH)