Huawei to take 16.83% stake in Bakrie Telecom via bond conversion

14 Mar 2017

The Indonesian unit of Chinese telecoms vendor Huawei Technologies has reportedly secured a 16.83% stake in publicly listed telecoms operator Bakrie Telecom (BTel) through a bond conversion, paving the way for the latter to recover from its perilous financial situation. The Jakarta Post quotes BTel president Anindya Novyan Bakrie as saying that the conversion will help improve the company’s long term position. The executive commented: ‘The mandatory convertible bond actually has a long tenor, but Huawei chose to convert it into shares. We welcome the decision.’

Indonesia, Bakrie Telecom (BTel), Huawei Technologies