TiPhone to acquire Simpatindo

PT TiPhone Mobile Indonesia (TELE IJ, BUY, TP:IDR1,000) is planning to acquires a distributor of electronic phone pulse voucher, PT Simpatindo Multi Media. The acquisition value is estimated at IDR500bn and will be commenced in 4Q14. The company also plans to prepare for cellphone assembly plant that will be located in Pluit, North Jakarta. Management is currently waiting for the approval to import the necessary components. However, management has not mentioned further details regarding the investment value for the plant.