Khazanah into Indonesia’s Excelcomindo

Last month, together with Telekom Malaysia (TM), Khazanah Nasional bought a stake in Singapore’s MobileOne Limited (M1).

Yesterday, Khazanah took another step forward into Indonesia’s telecommunication market by buying a 16.8% of stake in PT Excelcomindo Pratama, at 2,000 rupiah (RM 0.738) each with US $234million cash, furthermore confirmed its interest in Indonesia on earlier of September.

The part worth mentioning is that, TM already owned 27.3% of Excelcomindo in a US$314 million deal last December.

So, what is this all about? Head-to-head fight with Maxis?

Hmmm …

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