Hutchison eyes Multipolar

Hutchison eyes Multipolar

HONG KONG (Dow Jones): Hong Kong conglomerate Hutchison Whampoa Ltd. is in talks with the Lippo Group of Indonesia, the company confirmed Friday, but declined to say what the talks are about.

Various newspapers have recently reported that Hutchison is looking to buy up to 20 percent in Lippo unit PT Multipolar Corp., Indonesia's sole provider of broadband telecommunication links.

"We are in discussions, but it's too premature to make any further comments at the time being," a Hutchison spokeswoman said.

Lippo deputy chairman James Riady told the Singapore Business Times Thursday that Hutchison is "very keen" to team up with his company, but added that no deal has been struck yet.

A link-up between the two companies would create Indonesia's largest Internet services and cellular phone provider, the paper said.