JAKARTA -- Indonesian conglomerate Salim Group is buying the company behind local e-commerce platform elevenia, as it gears up to take on powerful international players like Alibaba Group Holding.
Two group affiliates are acquiring XL Planet -- a 50-50 joint venture between XL Axiata, the Indonesian unit of Malaysian telecommunications company Axiata Group, and South Korea's SK Planet. XL Axiata announced the deal on Thursday without disclosing the purchase price.
