Althem strikes deal with Penta Investments to acquire Lippo Telecom stake

25 Apr 2007

Malaysian Mobile Services’ subsidiary Althem has signed a deal to acquire a 44% stake in Indonesian mobile operator PT Natrindo Telepon Seluler, which markets services under the Lippo Telecom banner, from Penta Investment Ltd for USD123.9 million in cash. Penta Investment is a 100% owned unit of PT Aneka Tirta Nusa, which is itself part of Indonesia’s Lippo group. It is understood that the deal is contingent on all parties receiving the relevant approvals from the industry regulator, the Ministry of Communication and Information Technology (MoCI). The transaction is expected to be completed in the second quarter of 2007.

Indonesia, Maxis