Business Services Industry
Asian investors take over control of GSM based cellular phone business from European and American investors in Indonesia.(TELECOMMUNICATION)
Indonesian Commercial Newsletter, January, 2005
Asian based investors have gradually edged out European and American based investors from control of GSM-based cellular phone business in the country. Development of second generation of GSM-based cellular telecommunications system began in the country in 1993 involving a number of world telecommunications companies form Europe and the United States.
KPN from the Netherlands entered the country through Telkosel, Deutsche Telekom (DT) from Germany through Satelindo and Verizon from the United States through Excelcomindo Pratama (XL). However, starting in 2000, due to financial problem, some world telecommunication operators underwent internal consolidation, forcing KPN, DT and Verizon to divest their shares in Telkomsel, Satelindo and XL respectively. In 2001,...
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