Hutchison to end CAC investment soon

Thu, 28 Jul 2005, 00:00 WIB | Source: AP

HONG KONG: Hutchison Telecommunications International Ltd., a
cellular phone company controlled by Hong Kong billionaire Li Ka-
shing, said it would complete its investment in Indonesian cell
phone operator PT Cyber Access Communications "soon".

Hutchison Telecom had put its US$120 million bid for 60
percent of Cyber Access on hold over plans by the Indonesian
government to license more players and reallocate spectrum
already licensed to Cyber Access, the South China Morning Post
reported on Wednesday, without citing anyone.

"It's not true that we have put things on hold," said Mickey
Shiu, a spokeswoman for Hutchison Telecom. "We are closing the
deal soon and we look forward to entering the Indonesian market."

Thailand's Charoen Pokphand Group will retain a 40 percent
stake in the Indonesian cell phone network operator and the two
will jointly invest $300 million in Cyber Access, Hutchison said
in March.-- Bloomberg

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