Smart Telecom looking to gain control of Mobile-8, report says

3 Nov 2009

An unconfirmed report from Indonesian news site VIVAnews says that Global Mediacom (formerly PT Bimantara Citra) is looking to cede control of its mobile investment PT Mobile-8 Telecom to the Sinar Mas Group – which owns rival cellco Smart Telecom – through a deal involving ‘investments in stocks’. VIVAnews quotes an unnamed source as saying that PT Smart Telecom will increase its share ownership in Mobile-8, which operates under the banner FREN, from the 19% it currently holds, although it says the details of the deal are still in the process of being finalised. Mobile-8 corporate secretary Chris Taufik is quoted as saying: ‘The group wanted to synergise Smart Sinar Mas with FREN … We do not not want to give information, but it is the authority of shareholders," he told the news portal.

Indonesia, Mobile-8 Telecom, PT Smart Telecom (Smartfren)