Mobile-8 to merge with three CDMA-based cellular phone operators

Jakarta (Antara News) - Cellular telephone operator PT Mobile-8 (FREN) will form a merger with its subsidiaries PT Metro Selular Nusantara (Metrosel), PT Komunikasi Selular Indonesia (Komselindo) and PT Telekomindo Selular Raya (Telesera), a report said.

Publicly listed company PT Mobile-8 Telecom will turn into a surviving entity in the merger along with Metrosel, Komselindo and Telesera, FREN said here Wednesday.

The merger will hopefully build a synergy between FREN and the three CDMA-based cellular telecommunications operators to increase their operational coverage.

Meanwhile, a FREN shareholders extraordinary meeting will decide on the proposed merger on May 8, 2007.

FREN`s share price dropped from Rp265 to Rp260 at the Jakarta Stock Exchange on Tuesday. (*)
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