KUALA LUMPUR: Axiata Group Bhd has signed a definitive agreement with Indonesian conglomerate PT Sinar Mas Group to progress the proposed merger of PT XL Axiata Tbk (XL Axiata), PT Smartfren Telecom Tbk (Smartfren), and Smartfren’s subsidiary, PT Smart Telcom (SmartTel), in Indonesia.
XL Axiata is Axiata’s mobile unit in Indonesia.
Axiata said the merged entity, to be named PT XLSmart Telecom Sejahtera Tbk (XLSmart), will serve a combined mobile subscriber base of approximately 94.51 million, representing around 27% of the local market share, further solidifying itself as one of Indonesia’s most influential and trusted telecommunications operators.
“It aims to serve millions of Indonesian customers by delivering seamless connectivity, innovative digital solutions, and investing in future technologies such as 5G, artificial intelligence, cloud-based services, and cyber resilience, driving growth in the Indonesian digital economy,” it said in a statement today.