The acquisition process was still going on. PT Telkom and CamGSM were in the middle of agreeing on bidding price.Jakarta (ANTARA News) - State telecommunications operator PT Telkom has set itself the target of acquiring CamGSM, Cambodia`s largest cellular operator, this year.
"We hope the acquisition could be completed this year," PT Telkom President Director Rinaldi Firmansyah said here on Tuesday.
The acquisition process was still going on. PT Telkom and CamGSM were in the middle of agreeing on bidding price, he said.
He said PT Telkom was currently competing with three other telecommunications operators from Europe and Asia to acquire CamGSM shares.
"Telkom expects to hold a 51 percent stake or majority shares in CamSSM," he said.
This year, PT Telkom has set aside Rp1 trillion in funds to acquire other companies` shares. The funds are outside the company`s capital expenditure estimated at Rp16 trillion to Rp17 trillion.
He expressed hope that the acquisition of CamGSM shares would directly contribute to the company`s income. However, he stopped short of revealing how much the acquisition of CamGSM would cost PT Telkom.
Meanwhile, Telkom`s multimedia executive general Joddy Hermady said the company`s plan to acquire CamGSM shares had been included in its business plan of 2011.
To date, Cambodia, with a population of 14 million, has 9 cellular operators.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2011
