Aug 19, 2011

CMA Indonesia buys Reka Jasa Akses

Bakrie Group, via PT Capital Managers Asia Indonesia (CMA Indonesia), officially acquired 100% stake in PT Reka Jasa Akses worth US$12.5 million or Rp107.03 billion in a bid to penetrate the market of 4G-based technology internet.
CMA Indonesia requires 7 months for negotiations, valuation, and take over of Reka Jasa. Bakrie Telecom President Director Anindya N. Bakrie said the company provides US$37.5 million to develop Reka Jasa Akses.
Reka Jasa owns and manages 12.5 Mhz bandwidth , which is compatible for 3.3 Ghz frequency. CMA Indonesia is an investment company that controls 75% stake in PT Visi Media Asia Tbk with its media business such as TVOne and Vivanews.com.

Disclosure: No position at the stock mentioned above.

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