So far, we see no development in the consolidation for telco operator Smartfren Telecom (FREN), owned by Sinarmas Group. Reports by media outlets said FREN had been ever in talk to merging with PT Hutchison 3 Indonesia. Still, news pointed out that Hutchison 3 Indonesia (Tri Indonesia) was reviewing some schemes for collaborating with telco provider Indosat (ISAT), including the backdoor listing in the capital market.
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