Latest Rumor: Alibaba to Become Smartfren's Investor Through Lazada?

By Editorial Team 26/07/2022
M&A
Summary

The digital economy-related sectors' mergers and acquisitions (M&A) trend is rife. Recently, Lazada reportedly will soon become a shareholder of the telecommunications operator PT Smartfren Telecom Tbk (FREN). Alibaba Group e-commerce’s planned acquisition of FREN is related to Alibaba's ambition to grow its data center business in the Indonesian market.

"Alibaba will become FREN shareholder through a private placement," says a D-Insights source. Smartfren’s management refused to confirm the news. "At the moment, there is no confirmation regarding this," PT Smartfren Telecom Tbk President Director Merza Fachys told D-Insights, Monday.

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