Hutchison Telecom says it will ‘close deal soon’ on Cyber Access

27 Jul 2005

Hutchison Telecommunications International Limited (HTIL) has confirmed its intention to enter the Indonesian mobile market and says it is close to completing the acquisition of a 60% stake in Cyber Access Communications, owner of a national 3G operating licence. HTIL’s announcement comes in the wake of a story in the South China Morning Post that said it was freezing its USD120 million bid for the 60% stake citing concerns over the government’s plans to hold a second 3G auction in the coming months and reallocate UMTS spectrum. However, HTIL has quashed the speculation saying that the report is untrue.