Is It True That Alibaba Spent Rp 1.5 T to Buy Smartfren Shares? – Surely you are already familiar with the name ALIBABA. Alibaba is a giant e-commerce company founded by Jackma where Indonesians can buy Chinese products without using Chinese imports. is the news true? PT Dian Swastika Sentosa Tbk. (DSSA) officially released 6 percent or 19.6 billion shares of PT Smartfren Telecom Tbk. (FREN) to Alibaba Group.

This was confirmed by the Director of PT Smartfren Telecom Tbk. Antony Susilo. Antony said Alibaba had invested US$ 100 million or around Rp 1.5 trillion (assuming an exchange rate of Rp 14,886 per US dollar) to Smartfren Telecom.
In a letter numbered 057/SFTbk-CS/VII/2022 addressed to the Director of Corporate Valuation of the Indonesia Stock Exchange as of July 28, 2022, Antony confirmed the news that the authorities had asked him about.

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IDX previously asked Smartfren for an explanation on the news in the mass media titled “China’s Alibaba is said to Invest over $100m in Sinar Mas Group’s SmartfrenTelecom” which was located on Deal Street Asia on July 27, 2022.
In his answer to the IDX, Antony confirmed the news. The sale of FREN shares was carried out by Dian Swastika Sentosa, which is one of the business entities of the Sinar Mas Group. “Through the Beyond Telco strategy, FREN focuses on developing new digital services,” said Antony in an official statement, Thursday, July 28, 2022.
Therefore, said Antony, Smartfren continues to look for opportunities to collaborate with local and global service providers. In this way, FREN’s performance is expected to continue to improve in the future. Corporate Secretary PT Dian Swastika Sentosa Tbk. Susan Chandra previously said that the company sold 6 percent of FREN’s shares or the equivalent of 19,604,974,800 (19.6 billion) shares. The purchase was made at a price of Rp. 77 per share, bringing the total transaction to Rp. 1.5 trillion. “The transaction date for the sale of FREN shares is July 26, 2022,” said Susan. with 17 percent ownership. This figure is down from the previous position of owning 72.59 billion shares or 23 percent FREN. The purpose of the FREN share sale transaction is business collaboration.