Apr 27, 2011

BTEL reviews to buy 4G telco company

CDMA-based cellular operator PT Bakrie Telecom Tbk (BTEL) is considering to acquire a the fourth generation-based (4G) telecommunication company in a bid to expand its business.
"We expect to complete the acquisition in May 2011," said Bakrie Telecom's Corporate Services Director Rakhmat Junaidi as quoted by Kontan daily today.
However, he declined to mention the name of the target company. He clarified that Bakrie Telecom is not looking to buy Internux, winner of WiMax project tender.

Disclosure: No position at the stock mentioned above.

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