China Telecom cools on Excelcomindo

17 Mar 2004

China Telecom is reported to be rethinking its bidding tactics for Indonesian wireless operator Excelcomindo, citing concerns over price. The retreat leaves Australia’s Telstra and Telekom Malaysia in the running for the purchase, with the former looking the most likely to be successful, according to local reports. The sellers, Verizon and India’s Rajawali Group, have refused to comment on the reasons behind China Telecom’s apparent withdrawal.