Questions around this news
What did Axiata shareholders approve at the extraordinary meeting?
At its Extraordinary General Meeting, Axiata shareholders approved the proposed merger of PT XL Axiata and PT Smartfren Telecom Tbk. The vote was conducted by poll, and the results were submitted to Bursa Securities to meet regulatory requirements. The approval is one step toward completing the transaction.
What are the next steps in the proposed XL Axiata–Smartfren merger?
The release says shareholders of XL Axiata and Smartfren are due to hold separate Extraordinary General Meetings of Shareholders the day after Axiata’s meeting, where they will vote on the proposed merger. Axiata’s approval brings the proposed creation of the new entity, XLSMART, closer to completion, but the release does not provide further details about the remaining process.
What is an extraordinary general meeting?
An extraordinary general meeting is a shareholders’ meeting held outside a company’s regular annual meeting. It is typically called to discuss or vote on specific matters that need shareholder consideration, such as a major transaction or a change to company arrangements. The meeting’s notice generally sets out the matters shareholders will consider.
What does it mean when shareholders vote by poll?
A poll is a formal voting method in which votes are counted according to each voter’s entitlement, often linked to the number of shares held. This differs from a show of hands, where each person present may have one vote. The exact rules and voting entitlements depend on the company’s governing documents and applicable regulations.
KUALA LUMPUR, March 25, 2025 -- Axiata Group Berhad (“Axiata” or “the Group”) announced today that its shareholders have approved the proposed merger between PT XL Axiata (“XL Axiata”) and PT Smartfren Telecom Tbk (“Smartfren”) during the Group's Extraordinary General Meeting (“EGM”).
The results of the shareholder vote, conducted via poll, have been submitted to Bursa Securities (Bursa) in compliance with regulatory requirements. This approval marks a key milestone in finalising the merger, bringing the formation of the new entity, XLSMART another step closer to completion.
XL Axiata and Smartfren shareholders will hold their respective Extraordinary General Meetings of Shareholders (EGMS) tomorrow to vote on the merger.
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About Axiata
In pursuit of its vision to be The Next Generation Digital Champion, Axiata is a diversified telecommunications and digital conglomerate operating Digital Telcos, Digital Businesses and Infrastructure businesses across a footprint spanning ASEAN and South Asia.
The Group has controlling stakes in market-leading mobile and fixed operators in the region including 'XL' and 'Link Net' in Indonesia, 'Dialog' in Sri Lanka, 'Robi' in Bangladesh, and 'Smart' in Cambodia while 'CelcomDigi' in Malaysia is a Key Associate Company. Axiata's regional digital business verticals comprise 'Boost' a fintech company, and 'ADA', a digital analytics and AI company. 'EDOTCO' is among the top 10 independent TowerCos globally, operating in nine countries to deliver telecommunications infrastructure services.
As a committed and long-term investor, the Group actively supports and drives young talent development; community outreach; as well as climate change initiatives. Axiata's broader goal of Advancing Asia aims to piece together the best in the region in terms of innovation, connectivity and talent to drive digital inclusion and sustainable progress across our markets. Find out more at www.axiata.com
Issued By:
Corporate Communications
Axiata Group Berhad
Axiata Corporate Headquarters, Axiata Tower,
9 Jalan Stesen Sentral 5, Kuala Lumpur Sentral
50470 Kuala Lumpur
For further information on Axiata visit www.axiata.com
For media enquiries, please contact:
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Corporate Communications
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In brief
Axiata Group Berhad says its shareholders approved the proposed merger of PT XL Axiata and PT Smartfren Telecom Tbk at an Extraordinary General Meeting in Kuala Lumpur. The company said the poll results were submitted to Bursa Securities to meet regulatory requirements. Axiata described the vote as a milestone toward establishing the proposed XLSMART entity. The companies involved have further shareholder meetings scheduled for the following day, where their respective investors are expected to vote on the merger. The release does not report the outcome of those upcoming votes or state that the merger has been completed.
Key takeaways
- Axiata shareholders approved the proposed XL Axiata-Smartfren merger at an Extraordinary General Meeting.
- The company says poll results were submitted to Bursa Securities for regulatory compliance.
- XL Axiata and Smartfren shareholders are scheduled to vote on the proposal at meetings the following day.
- The proposed merger would form a new entity called XLSMART.
Earlier from Axiata
- Axiata delivered RM947 million in profits for FY24
- Axiata and Sinarmas Sign Two Letters of Intent to Advance Strategic Collaboration in the Presence of the Malaysian Prime Minister and Indonesian President
- Axiata Announces Signing of Definitive Agreement with Sinar Mas for the proposed merger of XL Axiata and Smartfren in Indonesia
- Axiata’s profits surge to RM1.1 billion for 2024 Year-to-Date
- Axiata Group’s Dr Hans Wijayasuriya will relinquish role in 2025, accepts invitation to lead Sri Lanka’s Digital Transformation
