Flooring Guide by Cinvex — PT Bali Media Telekomunikasi has officially announced a plan for the full acquisition of its shares by an undisclosed party. This strategic move was disclosed by the company’s Board of Directors to ensure full compliance with Indonesian regulations, including the Limited Liability Company Law and the Personal Data Protection Law.
In an announcement released on May 30, 2026, management confirmed that the acquisition process will proceed in accordance with the company’s articles of association and all relevant Indonesian legal frameworks. This notification marks the initial phase of a corporate action that is set to fundamentally reshape the company’s ownership structure.
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While the company has formally acknowledged the acquisition plan, it has yet to disclose the identity of the prospective new controller or the financial value of the transaction. The official statement emphasized that this step is a standard procedure to keep stakeholders informed of significant changes within the organization.
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In alignment with Article 127 of Law No. 40/2007 concerning Limited Liability Companies and its subsequent amendments, PT Bali Media Telekomunikasi has opened a window for creditors to file objections regarding the acquisition. Any creditors with relevant concerns are permitted to submit their objections in writing within 14 calendar days from the date of the announcement. Such submissions must be directed to the company’s headquarters located at Jalan Haji Agus Salim No. 45, Jakarta.
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As of the latest disclosure on the Indonesia Stock Exchange, PT Bali Media Telekomunikasi maintains a significant 24.57% stake in PT XL Axiata Tbk (EXCL), which is equivalent to 4,471,264,558 shares. The market remains attentive to further details regarding how this ownership stake will be impacted by the upcoming corporate takeover.
Summary
PT Bali Media Telekomunikasi has announced a full acquisition of its shares by an undisclosed party, a move designed to ensure compliance with Indonesian legal frameworks, including the Limited Liability Company and Personal Data Protection laws. While the company has not revealed the identity of the new controller or the transaction’s financial value, it has confirmed that the process follows official corporate governance protocols.
In accordance with Article 127 of the Limited Liability Company Law, the company has provided a 14-day window for creditors to submit written objections to its Jakarta headquarters. Stakeholders are closely monitoring the situation, particularly given the company’s significant 24.57% ownership stake in PT XL Axiata Tbk, to see how the acquisition will impact its future holdings.