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Telecommunication service operators PT XL Axiata (EXCL) and PT Smartfren Telecom (FREN) will announce the certainty of the merger which will form a new telecommunications entity called PT XLSmart Telecom Sejahtera (XLSMART).
Former chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Arsjad Rasjid, has emerged as one of the candidates for the post of President Commissioner of XLSmart Telecom Sejahtera. Arsjad is now Chairman of Kadin’s Advisory Board.
Meanwhile, the candidate for President Director & CEO of XLSmart is Rajeev Sethi. The merger announcement will be delivered on Tuesday, March 25, 2025 along with the implementation of the EXCL Annual General Meeting of Shareholders (AGM).
"This new entity will be a force in the telecommunications sector that can drive innovation, improve service quality, and expand digital connectivity throughout Indonesia," EXCL management said in a written statement on Thursday, March 20, 2025.
Axiata Group Berhad (Axiata) and Sinar Mas previously announced the appointment of a proposed board of directors for XLSmart. This is a historic merger between PT XL Axiata (EXCL), PT Smartfren Telecom (FREN) and PT Smart Telcom (SmartTel).
Meanwhile, Smartfren Telecom President Director Merza Fachys will occupy the position of Director and Chief Regulatory Officer.
Axiata Group Chief Executive Officer Vivek Sood said the appointment of the proposed XLSmart board of directors is still awaiting government and shareholder approval.
The appointment of the board of directors is expected to be a significant moment in the journey of creating a merger into a world-class telecommunications company. The new board of directors mostly comes from the existing ranks, so they have relevant experience.
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