Jakarta (ANTARA News) - Indonesia's third-biggest mobile phone operator, PT Excelcomindo Pratama Tbk, has agreed loans of 4 trillion rupiah ($424.4 million) from Indonesia's largest lender, PT Bank Mandiri Tbk.
The mobile phone firm, which is a 67 percent owned unit of Telecom Malaysia, said it in a statement that it signed the agreement on Wednesday but not elaborate on what the money would be used for.
Emirates Telecommunications (Etisalat), a Middle East firm, said earlier this month it was buying a 16 percent stake in Excelcom from Indonesia's Rajawali Corp for $438 million.
Etisalat, the second-largest publicly traded Arab telecom firm with operations in 16 countries, was quoted by Reuters as saying it wanted to gain exposure to the fast-growing telecoms market in Indonesia, the world's fourth most populous country.
Analysts see plenty of scope for growth in Indonesia's telecoms market, where penetration lags many other markets, with just 75 million subscribers in a population of 226 million.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.