In the early days of reform almost a decade ago, Setiawan Djody’s 5% ownership at PT Telkomsel. Reports said Djody got the shares after KPN (Netherland) gave its guarantee. KPN did that upon request of then Telecommunication Minister Joop Ave. KPN denied this, but admitted the guarantee given to Djody. Today, newspapers have been filled with Djody’s fresh move, to buyback Telkomsel sales. He claimed already prepared US$1.6 billion for the acquisition. Is he serious? Who are the people behind his move?
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