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    AXIATA   MYL6888OO001

AXIATA GROUP BERHAD

(AXIATA)
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Malaysia's Axiata seeks 66% stake in Indonesia's Link Net

07/30/2021 | 07:11am EDT
A general view of the Axiata headquarters building in Kuala Lumpur

KUALA LUMPUR (Reuters) - Malaysian telecoms group Axiata Group Bhd is exploring a deal to acquire almost two thirds of Indonesia's PT Link Net Tbk, it said in a stock exchange filing on Friday.

The group said it and its 66.48% Indonesian subsidiary, PT XL Axiata Tbk, entered into a non-binding term sheet with Asia Link Dewa Pte Ltd and PT First Media Tbk "to facilitate discussions and negotiations for a potential acquisition" of 1.82 billion shares or a 66.03% shareholding in Link Net.

Earlier this month, Bloomberg reported that Axiata was in advanced talks for a stake in the Jakarta-based cable television and high speed broadband provider and that private equity firm CVC Capital Partners had been looking to exit the investment.

CVC invested in Link Net in 2011, according to a press release on the company's website.

Axiata told Reuters last year it was looking to buy a smaller rival in Indonesia in a share-swap deal to cut costs and competition in its biggest market.

(Reporting by Liz Lee; Editing by James Pearson)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AXIATA GROUP BERHAD -1.76% 3.91 End-of-day quote.4.55%
PT FIRST MEDIA TBK 0.00% 790 End-of-day quote.92.68%
PT LINK NET TBK 2.64% 4280 End-of-day quote.77.59%
PT XL AXIATA TBK 1.01% 3000 End-of-day quote.9.89%
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Analyst Recommendations on AXIATA GROUP BERHAD
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Financials
Sales 2021 24 951 M 5 984 M 5 984 M
Net income 2021 1 019 M 244 M 244 M
Net Debt 2021 16 205 M 3 886 M 3 886 M
P/E ratio 2021 34,2x
Yield 2021 2,36%
Capitalization 35 865 M 8 598 M 8 601 M
EV / Sales 2021 2,09x
EV / Sales 2022 1,96x
Nbr of Employees 12 976
Free-Float 63,6%
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Technical analysis trends AXIATA GROUP BERHAD
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 20
Last Close Price 3,91 MYR
Average target price 4,47 MYR
Spread / Average Target 14,4%
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Managers and Directors
Mohammad Izzaddin bin Idris President, Group CEO, MD & Executive Director
Vivek Sood Group Chief Financial Officer
Ghazzali Abdul Khalid Non-Executive Chairman
Amandeep Singh Group Chief Technology Officer
Nirmal Anthony Rodrigo Group Chief Information Officer
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