Telekom Malaysia Bhd has raised its offer price for a stake in Indonesia’s third largest mobile phone firm, PT Excelcomindo Pratama, sources say, as rivals also try to break into the country’s fast-growing cellular market.
In search of new profit growth, Telekom and regional rivals such as China Telecom have in recent months redoubled their efforts to enter the under-developed mobile market in Indonesia, the world’s fourth most-populous country.
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