Chinese technology giant Alibaba intends to invest more than US$ 100 million (around IDR 1.5 trillion) in local telecommunications company PT Smartfren Telecom Tbk (FREN). This was reported by Nikkei citing a source who whispered to DealStreetAsia. So far, Alibaba has entered Indonesia through PT Akulaku Silvrr Indonesia, part of the Akulaku Group. Akulaku controls 25.66% shares of the digital bank Neo Commerce Bank. In addition, Alibaba has also entered the Fintech Fund through the Ant Financial collaboration with the Emtek conglomerate.
According to DealStreetAsia news as quoted by Nikkei, Thursday (28/7/2022), the plan to disburse these funds will be announced in the near future. DealStreetAsia has contacted Smartfren and Alibaba to confirm. The FREN-coded stock has started to climb because of this news. Since the beginning of this week, the stock has gone up. On Tuesday, it even rose to 9.2%.
July 28, 2022, detikFinance
(https://finance.detik.com/bursa-dan-valas/d-6203661/alibaba-investasi-rp-15-triliun-di-smartfren)