Indonesia's XL Axiata buys local service provider Hypernet for $22m

Indonesian telecom major PT XL Axiata Tbk has acquired a 51% stake in local service provider PT Hipernet Indodata (Hypernet) for IDR 321.2 billion ($22.38 million), according to a statement on Wednesday.

XL Axiata has acquired the stake from Bridgefield Prime Investments Pte Ltd, Ameisys Global Technologies Pte Ltd, PT Mitra Indo Asia and PT Magna Karya Archipelago.

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