JAKARTA — PT Bali Media Telekomunikasi has officially announced plans for a complete takeover of the company’s shares by an undisclosed party. This major corporate action was formally disclosed by the Board of Directors to ensure full compliance with Indonesian regulations, specifically the Limited Liability Companies Law and the Personal Data Protection Law.
In a public announcement issued on May 30, 2026, management confirmed that the acquisition process will be conducted in strict adherence to the company’s articles of association and the prevailing legal framework in Indonesia. This move marks the initial phase of a strategic corporate restructuring that is poised to significantly alter the company’s ownership landscape.
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While the company has initiated these formal proceedings, it has yet to disclose the identity of the prospective new controlling entity or the specific financial value of the transaction. The announcement, released on Saturday, May 30, 2026, serves as a formal notice to all stakeholders regarding the upcoming transition.
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In accordance with Article 127 of Law No. 40/2007 concerning Limited Liability Companies and its subsequent amendments, PT Bali Media Telekomunikasi is providing a window for creditors to voice potential objections regarding the takeover. Creditors who believe their interests may be affected have 14 calendar days from the date of the announcement to submit their concerns in writing.
Any written objections should be directed to the company’s headquarters located at Jalan Haji Agus Salim No. 45, Jakarta.
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The significance of this acquisition is underscored by the company’s current market position. According to Indonesia Stock Exchange (IDX) disclosures, PT Bali Media Telekomunikasi currently holds a substantial 24.57% stake in PT XL Axiata Tbk (EXCL), representing 4,471,264,558 shares. This makes the upcoming takeover a development of keen interest for market observers and investors alike.
Summary
PT Bali Media Telekomunikasi has formally announced a planned change in its controlling shareholders through a complete share takeover. While the identity of the acquiring party and the transaction value remain undisclosed, the company confirmed that the process will strictly adhere to Indonesian corporate laws and regulatory frameworks.
The company has provided a 14-day window for creditors to submit written objections regarding the restructuring. This transition is highly significant for market observers, as the firm currently maintains a substantial 24.57% stake in PT XL Axiata Tbk.
