Axiata and XL Axiata completed the acquisition of a 66% stake in Link Net from Asia Link Dewa and First Media for $607m.

Axiata, a telecommunication company, and XL Axiata, a telecommunications operator, completed the acquisition of a 66% stake in Link Net, a provider of high-speed next generation broadband and cable TV, from Asia Link Dewa and First Media for $607m. "In addition to doubling down on a high-growth segment in one of our key markets, our investment into Link Net is aligned with Axiata’s aspiration to support digital inclusion as Asian societies and businesses accelerate digitally.” Dato' Izzaddin Idris, Axiata President and Group CEO.