Bakrie eyes rights issue

Indonesian mobile operator Bakrie Telecom could opt for a rights issue in August, according to Reuters.
Bakrie is in talks to merge its CDMA business with that of domestic rival Telkom and could sew up the deal by the end of July.
Bakrie has a market cap…

Indonesian mobile operator Bakrie Telecom could opt for a rights issue in August, according to Reuters.

Bakrie is in talks to merge its CDMA business with that of domestic rival Telkom and could sew up the deal by the end of July.

Bakrie has a market cap of US$535m.

Moody’s said: “Telkom’s interest in PT Bakrie Telecom as a potential partner for its Flexi CDMA cellular business has no immediate impact on the company’s Baa2 rating. Telkom’s outlook also remains stable.”