www.WirelessFederation.com/news: PT Telekomunikasi Indonesia (Telkom), Indonesia’s dominant telecommunication group plans to acquire a stake in rival telco Bakrie Telecom.

In order to settle debts of more than USD1.2 billion, Indonesian family-run business group Bakrie & Brothers announced in October 2008 that it was looking to sell stakes in several of its major subsidiaries. Telkom’s announcement confirmed the speculations regarding the ownership of the company and its financial trouble for more than a year.

However, according to a report by CommsUpdate, the group’s Esia brand of wireless communication products and services is planning to merge with or buy other rival telecom companies in 2010. The company has taken this move to deal with competition in the market which the company describes as an intense one.