Axis, the Indonesian subsidiary of Saudi Telecom Company, said on Tuesday it has signed a $1.2bn financing deal with local and international financial institutions. The sharia compliant financing will help fund Axis’ expansion and growth strategies for the next five years, the company said in a statement.
The Indonesian telecom sector has witnessed sound growth over the past few years with Axis passing 11 million subscribers and serving more than 400 cities……………………………………….Full Article: Source