Indonesian mobile operator Bakrie Telecom is looking to raise Rp775bn (US$84.4m) via a rights issue this year, according to local newspapers citing company CEO Anindya Bakrie.
The proceeds will reportedly be used to repay bonds and to fund its…
Indonesian mobile operator Bakrie Telecom is looking to raise Rp775bn (US$84.4m) via a rights issue this year, according to local newspapers citing company CEO Anindya Bakrie.
The proceeds will reportedly be used to repay bonds and to fund its acquisition of a stake in the mobile unit of local conglomerate Sampoerna.
In mid-March, it was reported that Bakrie entered a share swap deal with Ceria Mobile, the mobile subsidiary of Sampoerna.
Under that deal, Bakrie will sell a 10% stake in itself to Ceria. In turn, it will acquire a 35% stake in the mobile company.
