Indonesian telecom company PT Bakrie Telecom secured a yuan-denominated financing facility worth about US$300m from the Industrial and Commercial Bank of China (ICBC), the company’s chief executive told Dow Jones Newswires on Thursday.
He said the loan…
Indonesian telecom company PT Bakrie Telecom secured a yuan-denominated financing facility worth about US$300m from the Industrial and Commercial Bank of China (ICBC), the company’s chief executive told Dow Jones Newswires on Thursday.
He said the loan would allow Bakrie to finance its capital expenditure for network expansion. Last month, TelecomFinance reported that Bakrie was considering a rights issue as well as merger between its CDMA business and that of domestic rival Telkom. The Indonesia mobile market is a highly-fragmented market, which is expected to see more consolidation in the years to come.
