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XL & Smartfren Announced $6.5bn Strategic Merger

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Algo Research Team

Company | Dec 15, 2024 | Views: 275

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Key Summary:

  • XL and Smartfren aim to finalize merger by 1H25
  • Axiata and Sinarmas will each hold 34.8% stake
  • New entity implies 80% earnings dilution for EXCL

XL Axiata and Smartfren recently disclosed that they are entering the final phase in their planned merger, which is aimed to be completed by the first half next year.


Context: XL Axiata (EXCL), Smartfren Telecom (FREN) and Smart Telcom (ST) announced that they have entered an agreement to merge and establish a new telco entity in Indonesia.

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