Axiata and Sinar Mas ink deal for landmark telecom merger in Indonesia

Quick Summary:

KUALA LUMPUR, Dec 11 — Axiata Group Bhd has signed a definitive agreement with Indonesian conglomerate PT Sinar Mas Grou...

Group chief executive officer and managing director Vivek Sood said the group believes that XLSmart will be a powerful platform to deliver enhanced connectivity, foster digital inclusion, and bridge the digital divide forcommunities across the country.“XLSmart’s priorities will be on ensuring a stable market environment, maximising merger synergies and driving profitable growth, and we are confident that it will be well-positioned to thrive in Indonesia’s dynamic digital economy,” he said.

According to Axiata, the exercise will benefit XLSmart by achieving operational efficiencies and cost synergies, with estimated annual run-rate pre-tax synergies of US$300 to US$400 million post-completion of integration.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: MalaysiaChinaIndonesia

Topics: Merger Axiata group bhd PT Sinar Mas Group

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 11:30:46 (4 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 497 words

Reading Time: 3 minutes read

Sentences: 12 lines

Sentence Length: 42 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Malay Mail

News ID: 24416002

View Article Analysis

About Malay Mail

Main Topics: EconomyBusiness

Official Website: malaymail.com

Update Frequency: 6 posts per day

Year Established: 1896

Headquarters: Malaysia

News Last Updated: 12 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #106

Publisher Details

Frequently Asked Questions