Malaysia's Axiata buys majority stake in PT Axis Telekom Indonesia

Reuters

KUALA LUMPUR, Sept 26 (Reuters) - Malaysia's largest mobilephone operator Axiata Group Bhd said its Indonesianunit has struck a deal with Saudi Telecom Co toacquire a majority stake in PT Axis Telekom Indonesia (Axis) foran undisclosed sum.

Saudi Telecom subsidiary Teleglobal will sell a 95 percentequity stake in Axis to XL Axiata Tbk, Axiata said in a stockexchange filing on Thursday.

Axis has an enterprise value of $865 million, Axiata said.

(Reporting by Niluksi Koswanage; Editing by Miral Fahmy)

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