JAKARTA (Yosefardi) – Sinar Mas Group will not support its unit PT Smartfren Telecom Tbk (FREN) to merge with PT Bakrie Telecom Tbk (BTEL). The group only supports the network sharing.
While FREN reportedly mulls share swap option for consolidating its telecommunication business.
FREN now also focuses on migration into 2.3 GHz radio frequency spectrum from 1.9 GHz. The migration, costs Rp8-10 trillion, must be concluded before end of this year.
FREN, CDMA-based operator, suffered loss of Rp652.14 billion in the first half of 2014 on revenues of Rp1.43 trillion. Its assets totaled Rp16.95 billion while liability amounted Rp13.55 billion.