Lippo Ltd
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11:16 23-DEC-1999
Lippo , Hutchison in Internet talks-paper
SINGAPORE, Dec 23 - The Lippo Group is in
talks with Hong Kong's Hutchison Whampoa
<0013.HK> to create Indonesia's largest Internetservices
and cellular phone services provider, The Business Times
said on Wednesday.
Lippo's deputy chairman James Riady told the paper the Indonesian group was keen to strike a deal with the Hong Kong-based telecommunications giant but no agreement had been reached yet. Hutchison is prepared to buy a five to 20 percent stake in Lippo's subsidiary Multipolar Corp , Indonesia's sole provider of broadband telecommunication links, the paper quoted sources as saying.