Indonesian operator XL Axiata expects to finalise its acquisition of Axis by February 2014. A loan from parent company Axiata will cover up to 58 per cent of the acquisition costs, with bank loans making up the remainder. In addition to seeking permission from the Financial Services Authority and Business Competition Supervisory Commission, the company will also need to obtain the approval of the shareholders for the transaction. A meeting to address this matter will be held in January 2014.