M&As such as the recent XL–smartfren merger are reshaping Indonesia’s telecoms market
09 July 2025 | Research
Article | PDF (3 pages) | Emerging Asia–Pacific Metrics and Forecasts| Fixed–Mobile Convergence
"The merger of XL and smartfren in April 2025 created a new fixed–mobile operator in the market: XLSMART."
Axiata and Sinar Mas completed the merger of their operating companies in Indonesia – XL and smartfren, respectively – in April 2025. The transaction created a new, larger fixed–mobile operator in the market: XLSMART.
This article explores how mergers and acquisitions have enabled these operators to compete with the incumbent Indonesian telecoms company, Telkom.
Author
Qingyi Liang
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