According to sources familiar with the matter, Axiata Group Bhd. is Malaysia’s largest wireless carrier and is currently in talks to purchase a stake in PT Link Net in Indonesia.

According to people, Axiata is in discussions with potential sellers CVC Capital Partners, PT First Media and private equity firm CVC Capital Partners. These are both arm companies of billionaire Riady’s Lippo Group conglomerate. According to people familiar with the matter, Axiata is considering various options for the deal structure, including the purchase of the stake via its Jakarta-listed unit PT XL Axiata.

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Based on Monday’s closing price, Link Net has a market capitalization of 12.4 trillion rupees ($857 million). Data compiled by Bloomberg shows that 36% of Link Net is owned by CVC Capital Partners, while 28% are held by PT First Media.

CVC and First Media had considered selling a majority stake of Link Net in 2015, according to people familiar with the matter.

Link Net was founded in 1996 and provides high-speed broadband services as well as cable television to customers throughout Indonesia. Its website displays. According to the first quarter corporate presentation, its services are connected to 2.7 millions homes. It earned 249 billion rupees in net income for the three months ending March 31, an increase of 26% year-on–year.

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