Alibaba linked to USD100m investment in Smartfren Telecom

26 Jul 2022

Unconfirmed reports suggest that Chinese technology group Alibaba is poised to plough around USD100 million into Indonesia’s Smartfren Telecom, which is part of the Sinar Mas Group. Deal Street Asia notes that if realised, the investment will mark a ‘deepening [of] its exposure in the Indonesian market by tapping one of the country’s biggest conglomerates and its vast ecosystem spanning communications and technology’. The e-commerce giant is understood to be keen to develop its data centre business in Indonesia. Elsewhere, a source told D-Insights that Alibaba will become a shareholder through a private placement with its subsidiary Lazada Group, although Smartfren refused to confirm the rumour with President Director Merza Fachys saying: ‘At the moment, there is no confirmation regarding this’.

Indonesia, Alibaba Group, Smart Telecom (Smartfren)