Axiata in advanced talks for stake in Indonesian internet provider Link Net

KUALA LUMPUR (Bloomberg) -- Axiata Group Bhd, Malaysia’s biggest wireless carrier, is in advanced talks to buy a stake in Indonesian internet provider PT Link Net, according to people with knowledge of the matter.

Discussions are progressing among Axiata and the potential sellers, private equity firm CVC Capital Partners and PT First Media, an arm of the billionaire Riady family’s Lippo Group conglomerate, the people said.

Axiata is weighing options on the potential deal structure including buying the stake via its Jakarta-listed unit PT XL Axiata, the people said, asking not to be identified because the process is private.