Axiata buys Indonesian operator

XL Axiata, a unit of Malaysia’s largest cellphone operator, will acquire Axis Telekom Indonesia from Saudi Telecom and settle $865m of the closely held carrier’s debts. XL Axiata, a 66.5% subsidiary of Axiata Group, is paying $100 cash for the share capital of Axis, according to a stock exchange filing in Kuala Lumpur yesterday.