JAKARTA May 8 PT Telekomunikasi Indonesia
, the nation's biggest telecom firm, has submitted a
bid to buy Asia's leading undersea cable operator Pacnet Ltd, in
a deal that could value Pacnet at about $1 billion including
debt, sources said on Tuesday.
Telkom submitted the bid last week after it reviewed
Pacnet's business over the past few months, said one of the
sources with direct knowledge of the matter, who declined to be
identified because they were not authorized to speak to the
Pacnet, owned by groups including Ashmore Investment
Management and Clearwater Capital Partners, put itself for sale
last year after its IPO plan was hit by choppy markets, but the
sale stalled after it received lower-than-expected offers in the
initial round of bidding, sources told Reuters early this year.
Pacnet has appointed Credit Suisse and Goldman
Sachs to advise the sale. Telkom declined to comment
while Pacnet was not immediately available for comment.
(Reporting by Janeman Latul; Additional reporting by Fathiya
Dahrul, Denny Thomas in Hong Kong; Editing by Neil Chatterjee
and Muralikumar Anantharaman)