<article>Malaysian wireless carrier <a href="https://www.dealstreetasia.com/?s=Axiata+Group+Bhd">Axiata Group Bhd.</a> is considering acquiring a stake in <a href="https://www.dealstreetasia.com/?s=PT+Link+Net">PT Link Net</a>, the Indonesian internet provider backed by CVC Capital Partners, according to people with knowledge of the matter.</article>

Malaysian wireless carrier <a href="https://www.dealstreetasia.com/?s=Axiata+Group+Bhd">Axiata Group Bhd.</a> is considering acquiring a stake in <a href="https://www.dealstreetasia.com/?s=PT+Link+Net">PT Link Net</a>, the Indonesian internet provider backed by CVC Capital Partners, according to people with knowledge of the matter.
Axiata’s listed Indonesian unit PT XL Axiata has started talks with major shareholders of Link Net about a potential deal, the people said, asking not to be identified because the process is private. XL Axiata is working with an adviser as it explores the purchase of about a 40 percent stake, said one of the people.
A stake that size would be worth about $356 million based on Thursday’s closing price. CVC Capital Partners owns 33 percent of Link Net while PT First Media, an arm of the billionaire Riady family’s Lippo Group conglomerate, holds 26 percent, data compiled by Bloomberg show.
Link Net has attracted investor interest as recently as May, when First Media sold a $75 million stake in the Jakarta-based firm in a share placement. The company’s two biggest shareholders sold about 30 percent of Link Net in 2014 through a $454 million offering, the Bloomberg-compiled data show.
A year later, CVC and First Media considered divesting a majority holding, people familiar with the matter said at the time, although a deal never came to fruition.
There’s no certainty the discussions will lead to a transaction, and other buyers for the stake could emerge, the people said. Representatives for XL Axiata and Lippo didn’t respond to requests for comment, while representatives for Link Net and CVC declined to comment.
Link Net, founded in in 1996, provides services to more than 2 million homes in Indonesia, Southeast Asia’s biggest economy, its website shows.
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Bloomberg

Malaysian wireless carrier Axiata Group Bhd. is considering acquiring a stake in PT Link Net, the Indonesian internet provider backed by CVC Capital Partners.

Malaysia's Axiata mulls stake purchase in CVC-backed internet provider Link Net

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Malaysia's Axiata mulls stake purchase in CVC-backed internet provider Link Net

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