Chinese Internet giant Alibaba’s e-commerce arm, Lazada, has picked up a stake in PT Smartfren Telecom, part of the Sinar Mas Group, a top executive at the Indonesia-listed telecom operator told DealStreetAsia.
“For now, Alibaba has invested 6% in Smartfren through Lazada but it will be expanded more in accordance with Indonesia’s potential market,” said Smartfren Chief Commercial Officer Andrijanto Muljono.