99 Tekno – , JAKARTA — PT Bali Media Telekomunikasi has announced a significant corporate development: a plan for the complete takeover of all its shares by an unspecified party.
This strategic corporate maneuver was officially disclosed by the Company’s Board of Directors, underscoring its commitment to complying with prevailing legal frameworks, including the Limited Liability Company Law and the Personal Data Protection Law.
In an official announcement published on May 30, 2026, PT Bali Media Telekomunikasi’s management affirmed that the acquisition process will be executed in strict accordance with the company’s articles of association and all applicable regulations in Indonesia.
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“The Company hereby announces a plan for the takeover of all shares in the Company [Takeover Plan],” stated the announcement, which was quoted on Saturday, May 30, 2026.
This declaration marks the initial phase of a corporate action poised to significantly reshape the company’s ownership structure. However, the identity of the prospective new controlling party, as well as the financial value associated with this planned takeover, have yet to be publicly revealed.
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In compliance with Article 127 of Law No. 40/2007 on Limited Liability Companies and its subsequent amendments, PT Bali Media Telekomunikasi is extending an opportunity for creditors to lodge objections to the proposed plan.
Creditors with relevant interests are invited to submit their objections in writing no later than 14 calendar days from the date of the announcement. These objections can be submitted directly to the Company at its office located at Jalan Haji Agus Salim No. 45, Jakarta.
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According to disclosures made to the Indonesia Stock Exchange (IDX), PT Bali Media Telekomunikasi currently holds a significant 24.57% ownership stake (equivalent to 4,471,264,558 shares) in telecommunications giant PT XL Axiata Tbk (EXCL).
Summary
PT Bali Media Telekomunikasi has officially announced a plan for a complete takeover of all its shares by an unidentified party. This corporate action is being conducted in compliance with Indonesian laws, including the Limited Liability Company Law and the Personal Data Protection Law, to ensure full regulatory adherence during the ownership transition.
Creditors have been invited to submit formal written objections regarding the acquisition within 14 calendar days of the May 30, 2026 announcement. The company, which currently holds a 24.57% stake in PT XL Axiata Tbk, has not yet disclosed the identity of the acquiring party or the financial terms of the agreement.