Hutch to buy into PT Cyber Access

10 Mar 2005

Hutchison Telecommunications International’s Indonesian unit has entered into an agreement to acquire a 60% stake in local mobile operator PT Cyber Access Communications for USD120 million. The move will give Hutch management control of Cyber Access; the remaining 40% is owned by Charoen Pokphand Group Indonesia. Both shareholders have committed to invest USD300 million each in Cyber Access. The cellco is the only one in Indonesia that holds a combined nationwide 2G and 3G mobile licence.