Saudi-based operator STC has increased its stake in the Indonesian mobile network, Axis to 80.1 percent, from 51 percent, the company confirmed via a statement to the Saudi stock exchange. According to a Cellular News report, the company brought the stake from fellow shareholder, Malaysia’s Maxis Communications, which has reduced its holding to 14.9 percent. STC will manage and operate Axis and appoint all the members of the board of directors.