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Emirates Telecom to buy into Indonesia Excelcom

Emirates Telecommunications Corp. also known as Etisalat (ETEL.AD), the second largest publicly traded Arab telecom firm, said it would buy 16 percent of Indonesia's PT Excelcomindo Pratama Tbk (EXCL.JK) for $438 million.

Excelcomindo is Indonesia's third largest telecoms company. The transaction would be completed as early as this month, Etisalat said in a statement on Tuesday.

 

Source:
http://www.reuters.com/article/technologymediatelcoSP/idUSL1165155920071211

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