Hutchison to invest up to $1B in Indonesia
Hong Kong-based telecommunications company Hutchison Telecom International says it is committed to Indonesian and will invest up to $1 billion until 2010, Asia Pulse reported.
The statement came after reports that it would abandon projects in the country and was seeking buyers for its stake in PT Hutchison Telecom Indonesia, a joint venture with CP Group of Indonesia.
The report said Hutchison began to show frustration with business uncertainty in the country.
Suresh Reddy, chief commercial officer of Hutchison CP Telecommunications, said the report is unfounded.
A guarantee has been received from the shareholders in Hong Kong that Hutchison will maintain its telecommunications business in Indonesia, Reddy told Investor Daily.
The statement came after reports that it would abandon projects in the country and was seeking buyers for its stake in PT Hutchison Telecom Indonesia, a joint venture with CP Group of Indonesia.
The report said Hutchison began to show frustration with business uncertainty in the country.
Suresh Reddy, chief commercial officer of Hutchison CP Telecommunications, said the report is unfounded.
A guarantee has been received from the shareholders in Hong Kong that Hutchison will maintain its telecommunications business in Indonesia, Reddy told Investor Daily.