XL officially acquires
Axis
The Jakarta Post, Jakarta | Business | Thu, March 20 2014, 3:05 PM
Telecommunication company XL Axiata
has completed its payment to acquire Axis Telekom Indonesia with a US$865
million investment.
The deal was made after XL and Saudi Telecom Company (STC), previously the major shareholders in Axis, signed the transaction document.
Kompas.com reported on Thursday that the acquisition transaction signing was conducted at XL headquarters in Menara Prima, Kuningan, South Jakarta.
XL's acquisition of Axis Telekom Indonesia makes it the major shareholder in the company.
XL received a $500 million loan from its holding firm, Axiata of Malaysia, and the rest was from three other banking institutions, which were UOB, the Bank of Tokyo Mitsubishi and DBS.
XL Axiata president director and CEO Hasnul Suhaimi said his team would finish a series of processes to finalize the acquisition and merger in line with the existing regulations.
"XL efforts in acquiring and merging with Axis will support and produce a healthy telecommunication industry and create significant multiple effects for the nation's economy," Hasnul said in a release to KompasTekno.
XL announced its plan to acquire Axis in September 2013. The first regulator who gave the green light to the company was the Communications and Information Ministry in December last year.
XL then received approval from its shareholders, the Financial Services Authority (OJK), the Indonesia Stock Exchange (BEI), the Investment Coordinating Board (BKPM) and the Business Competition Supervisory Commission (KPPU) on March 10 this year. (nfo)
The deal was made after XL and Saudi Telecom Company (STC), previously the major shareholders in Axis, signed the transaction document.
Kompas.com reported on Thursday that the acquisition transaction signing was conducted at XL headquarters in Menara Prima, Kuningan, South Jakarta.
XL's acquisition of Axis Telekom Indonesia makes it the major shareholder in the company.
XL received a $500 million loan from its holding firm, Axiata of Malaysia, and the rest was from three other banking institutions, which were UOB, the Bank of Tokyo Mitsubishi and DBS.
XL Axiata president director and CEO Hasnul Suhaimi said his team would finish a series of processes to finalize the acquisition and merger in line with the existing regulations.
"XL efforts in acquiring and merging with Axis will support and produce a healthy telecommunication industry and create significant multiple effects for the nation's economy," Hasnul said in a release to KompasTekno.
XL announced its plan to acquire Axis in September 2013. The first regulator who gave the green light to the company was the Communications and Information Ministry in December last year.
XL then received approval from its shareholders, the Financial Services Authority (OJK), the Indonesia Stock Exchange (BEI), the Investment Coordinating Board (BKPM) and the Business Competition Supervisory Commission (KPPU) on March 10 this year. (nfo)
COMMENT :
Anne Karina Sekar
Depends on the rules, if there are two cellular operator companies are acquiring, both frequency is based on the governments. Eventhough both companies has it owns principil, it doesn't guarantee that the process of acquiry has been done. Still, they have to qualify the regulations of acquiry company.
Tidak ada komentar:
Posting Komentar