Indonesian telecommunications company, PT Bakrie Telecom Tbk (BTEL), announced today that it will acquire a 4G speed telecommunications service company. The name of the company is kept confidential and will only be revealed after the acquisition is completed in the second half of this year.
Rakhmat Junaidi, Director of BTEL Corporate Services explained that the name and valuation of the company cannot be revealed to the public because it is still in the process of due diligence.
The acquisition would allow BTEL to enhance its business development towards 4G technology. To make that a reality, BTEL has set aside a capital expenditure of U.S. $ 200 million this year. It is also preparing a mobile network license for its CDMA network.
If the acquisition is successful at the end of 2011, BTEL would be able to boast the connection speed for its data plan users. It would also create a more conducive environment for mobile related start-ups in Indonesia.
Via detikfinance
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