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DealStreetAsia

Alibaba to invest over $100m in Indonesia-listed Smartfren Telecom

Chinese tech major facing intense regulatory scrutiny at home

Chinese technology giant Alibaba is increasingly turning to Indonesia.   © Reuters

Chinese technology giant Alibaba is set to invest in Indonesia-listed telecommunications operator PT Smartfren Telecom, part of the Sinar Mas Group, in a deal that could be worth over $100 million, sources told DealStreetAsia.

With the potential investment, the Chinese tech major is seen to be deepening its exposure in the Indonesian market by tapping one of the country's biggest conglomerates and its vast ecosystem spanning communications and technology, paper, agribusiness, financial services and infrastructure.

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