Jakarta XL Axiata Axis Capital group XL Axiata completes Axis acquisition

Indonesian mobile operator XL Axiata, a subsidiary of Malaysia’s Axiata Group, has completed the acquisition of smaller rival Axis Telekom. Earlier this month the transaction received approval from Indonesian anti-monopoly authority Komisi Pengawas Persaingan Usaha (KPPU) – the last regulatory hurdle needed for the deal to proceed – with both companies’ shareholders plus other Indonesian regulators already having approved the takeover. In December 2013 the Ministry of Communications and Information Technology (MoCI) agreed to the transaction going ahead on the condition that the enlarged entity hand back several blocks of 2100MHz mobile frequency spectrum. Axiata said that through its acquisition and merger with Axis, XL will provide better and more comprehensive services to a greater number of customers throughout Indonesia.