Indonesian telcos Smartfren and Bakrie Telecom have agreed to merge their network operations, the companies said in a brief stock exchange announcement.
Financial details were not disclosed but the deal will see Bakrie own a stake in Smartfren and rent…
Indonesian telcos Smartfren and Bakrie Telecom have agreed to merge their network operations, the companies said in a brief stock exchange announcement.
Financial details were not disclosed but the deal will see Bakrie own a stake in Smartfren and rent capacity on its network.
The two operators already share the same CDMA technology, which has recently been falling out of favour in Indonesia’s crowded mobile market. The country’s incumbent Telkom and its second-largest operator Indosat have been shutting their CDMA segments and reallocating the spectrum for GSM.
The merger comes as Bakrie is reportedly being sued by investors holding more than 25% of a US$380m bond due 2015, after allegedly missing two interest payments.
