Reuters quotes unnamed sources as saying that UAE-based telecoms group Etisalat is planning to sell its 13.29% equity stake in Indonesia’s third largest mobile operator by subscribers, PT XL Axiata, and could raise up to USD700 million in the process. People with ‘direct knowledge of the matter’ suggest Etisalat has been considering the sale for several months, after failing to expand its working partnership with XL Axiata’s majority shareholder, Axiata Group Malaysia.
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OVETEL Etisalat looking to offload stake in Indonesia’s XL Axiata, sources say
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