Indosat and XL Axiata Join the Race for Link Net’s Shares

A couple of times ago, MNC Group was the strongest candidate to takeover some of Link Net’s shares, which are reportedly to be released by PT First Media Tbk and CVC Capital Partners, the company’s main stakeholders. Recently, Bloomberg reported that the shares also become the interests of two other giants, XL Axiata (XL) and Indosat.

Last May, the news of Grup Lippo First Media intending to divest their shares on Link Net, which were 33,82 percent per 2015’s first quarter, became the main headline. Among those who’re interested on buying, MNC Group was the favorite at that time.

“Their market share (Link Net) was small, but if the price meets our interest, then count us in,” said Hary Tanoesoedibjo, MNC Group’s CEO, as Metro reported.

It’s safe to say that MNC’s intention of acquiring Link Net is part of the company’s plan of adding more powers in Fixed Broadband sector, acknowledging that it has started the competition by launching MNC Play.

There has yet been any further information about this. Both Indosat and XL have yet provided any confirmation. MNC Group, represented by the company’s secretary Syafril Nasution, expressed that the opportunity to bring positive impacts on MNC Group has attracted their interests.

Link Net is currently in the period of service quality fixation and user target fulfillment. To materialize the blueprint, Link Net has planned to expand to several areas in East Java, Medan and Bandung, as well as entering 200 Mbps market.