French incumbent France Telecom (FT) has placed a bid to buy a minority stake in Cambodian cellco Mobitel, according to a French embassy official in Cambodia cited by Reuters.
This offer is part of France Telecom’s strategy to expand in emerging markets,…
French incumbent France Telecom (FT) has placed a bid to buy a minority stake in Cambodian cellco Mobitel, according to a French embassy official in Cambodia cited by Reuters.
This offer is part of France Telecom’s strategy to expand in emerging markets, the newswire states.
Mobitel, whose parent company is Cambodian mobile operator CamGSM, has already attracted the interest of at least one other bidder: Indonesian incumbent PT Telkom.
A few days ago, Reuters reported that PT Telkom was planning to acquire a majority stake in CamGSM for about US$500m.
Tanri Abeng, PT’s chief commissioner, was cited saying that the company is expecting to complete the deal by Q1 2011. This deal would represent PT’s first major purchase deal outside of Indonesia.
FT declined to comment, while CamGSM and PT could not be reached before going to press.
