Indonesian incumbent PT Telekomunikasi Indonesia is planning to acquire a majority stake in Cambodian mobile operator CamGSM, according to media reports.
Tanri Abeng, PT’s chief commissioner, was cited by Reuters today saying the company was planning to…
Indonesian incumbent PT Telekomunikasi Indonesia is planning to acquire a majority stake in Cambodian mobile operator CamGSM, according to media reports.
Tanri Abeng, PT’s chief commissioner, was cited by Reuters today saying the company was planning to buy the stake, and that it expected to complete the deal by Q1 2011.
This deal would represent PT’s first major purchase deal outside of Indonesia. Indonesian media reported in late November that PT was planning to become a holding company by 2012.
It was also reported in late November that CamGSM had signed an agreement to borrow up to US$591m from Chinese banks.
This facility would be used to refinance a US$421m loan used by the Cambodian Royal Group to acquire CamGSM from Luxembourg celco Millicom in 2009. This loan was provided by Standard Bank and the Australia and New Zealand Banking Group.
Telkom was unavailable for comment before the press deadline.
