![Axiata and Sinar Mas Announce Preparations for the XL Axiata](https://todaysgist.com/wp-content/uploads/2024/05/Axiata-and-Sinar-Mas-Announce-Preparations-for-the-XL-Axiata.jpeg)
![Axiata and Sinar Mas Announce Preparations for the XL Axiata](https://todaysgist.com/wp-content/uploads/2024/05/Axiata-and-Sinar-Mas-Announce-Preparations-for-the-XL-Axiata.jpeg)
Axiata and Sinar Mas Announce Preparations for the XL Axiata – Smartfren Merger
Follow Us @
Axiata and Sinar Mas Announce Preparations for the XL Axiata – Smartfren Merger
Liputan6.com, Jakarta – Axiata Group and Sinar Mas Group announced that they have signed a non-binding memorandum of understanding or MOU to explore merger plans between XL Axiata and Smartfren.
In the XL Axiata-Smartfren merger plan, the two companies are said to be creating a new entity called MergeCo.
In an official statement received, Wednesday (15/5/2024), this transaction plan is still in the initial evaluation stage, with Axiata and Sinar Mas aiming to remain the controlling shareholders of MergeCo.
“At this time, ongoing discussions between the parties have not resulted in a binding agreement or completion of the Transaction Plan,” Axiata wrote in an official statement.
It was further explained that validation of the merger and creation of value for shareholders, due diligence, preparation of a joint business plan and agreement on important terms will be the main activities carried out during the exploration stage as regulated in the MOU.
Later, any important developments related to the XL Axiata and Smartfren merger MOU will be announced later.
If a binding agreement is signed at a later date, the related transaction will be subject to applicable regulations and corporate and government approval.
The proposed business merger between XL Axiata and Smartfren is expected to bring together the scale, competence, finances and deep telecommunications expertise of Axiata and the local scale and market knowledge of Sinar Mas.
“Both parties are expected to provide a balanced influence on MergeCo's strategic direction and operational decisions, by utilizing their respective strengths,” wrote Axiata further.
Axiata believes that MergeCo will have strategic agility, competence and capabilities to meet the increasing expectations and demands of consumers, businesses and the public sector in Indonesia.
“MergeCo is expected to provide the best experience for consumers in the telecommunications sector and create added value for shareholders, through synergies from the merger of XL Axiata and Smartfren operations,” Axiata wrote in closing its statement.
Axiata and Sinar Mas Announce Preparations for the XL Axiata – Smartfren Merger
Follow TODAYSGIST on Google News and receive alerts for the main trending news on tech, Ai news, latest updates, discoveries, telecoms and lots more! Axiata and Sinar Mas Announce Preparations for the XL Axiata – Smartfren Merger
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Axiata and Sinar Mas Announce Preparations for the XL Axiata – Smartfren Merger
#Axiata #Sinar #Mas #Announce #Preparations #Axiata #Smartfren #Merger
- usa today entertainment3 months ago
Angry Birds Mystery Island (TV series 2024) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Tour de France Unchained (2023) (French) (TV series) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Mayor of Kingstown (TV series 2021) Download Mp4 ▷ Todaysgist
- Trend tech & Telecoms3 months ago
4 Indonesian Free Fire Teams Ready to Compete in the 2024 Esports World Cup
- usa today entertainment3 months ago
Raising Voices (2024) (Spanish) (TV series) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Worst Roommate Ever (TV series 2022) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Shoresy (TV series) Download Mp4 ▷ Todaysgist
- usa today entertainment3 months ago
Hitler and the Nazis, evil on trial (TV series 2024) Download Mp4 ▷ Todaysgist