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Shareholders of XL Axiata, Smartfren Telecom, and Smart Telcom have approved their merger, creating a new entity named XLSmart, which will serve over 94.3 million subscribers. The merger, backed by regulatory approvals, is expected to generate annual revenue of 45.8 trillion rupiah (US$2.76 billion) and an EBITDA of 22.5 trillion rupiah (US$1.35 billion). Axiata Group and Sinar Mas will each hold a 34.8% stake, with Rajeev Sethi appointed as President Director and CEO.
Axiata Group Bhd. and PT Sinar Mas Group are reportedly close to finalizing a merger of their telecommunications operations in Indonesia. The deal, which could be announced soon, may involve a combination of cash and shares, creating a new entity with approximately 100 million customers.
Axiata Group Berhad
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shareholders approve merger of xl axiata smartfren and smart telecom
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PT XL Axiata Tbk
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Axiata Group Berhad
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Rajeev Sethi
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03:51 26.03.2025
Axiata and Sinar Mas close to merging Indonesian telecom operations
11:21 09.12.2024
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