CK Hutchison mulls Indonesian telecom deal with Axiata

Photo by XL Axiata

CK Hutchison Holdings Ltd is weighing a combination of its Indonesian telecommunications business with that of Malaysia’s Axiata Group Bhd, Bloomberg reported on Monday, citing people with knowledge of the matter.

CK Hutchison, the ports-to-telecoms arm of retired billionaire Li Ka-shing’s businesses, informally explored a combination of its Indonesian wireless business with the Malaysian carrier’s Indonesian unit, PT XL Axiata, the report said. The companies have not begun any substantive negotiations, it added.

Hutchison did not immediately respond to a request seeking comment.

Axiata did not confirm or deny the report, but said, “Axiata has created significant value uplift and attractiveness for its operations and as evidenced in the last one year, we have attracted a lot of suitors to partner with us and seeking to acquire our assets, including Telenor, Mistui (ADS), Sumitomo (ADA) among others.”

Last week, Telenor and Axiata ended talks to create a telecoms joint venture. Executives said Axiata was discussing deals with other parties and considering an initial public offering of its tower business.

Reuters

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.