Bakrie agrees Chinese funding deal

17 Aug 2010

Indonesian CDMA operator Bakrie Telecom has reportedly agreed a USD300 million loan from the Industrial and Commercial Bank of China (ICBC), which it says it will use to finance its ongoing CAPEX. In a statement, Bakrie said the support from ICBC will help it to expand its network so that more people can use its affordable voice and data services. The telco is looking to boost its subscriber base to 14 million users by the end of this year, from 10.5 million as at 31 December 2009.

Indonesia, Bakrie Telecom (BTel)