State construction firm PT PP Tbk (PTPP) prepares Rp800 billion to acquire PT Krakatau Tirta Industri (KTI), a unit of state steel producer Krakatau Steel (KRAS). PTPP’s president director Lukman Hidayat said his party is in negotiation with Krakatau Steel’s president director Silmy Karim regarding the acquisition. So, the company cannot explain the valuation of KTI shares.
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