IT certainly seems as if Alfa Telecom International Mobile (Altimo) does not want to return home to Russia empty-handed. Having failed in its attempt to acquire shares in PT Indosat Tbk, some five months ago, Altimo is now aiming elsewhere. This telecommunications giant is currently targeting the 16 percent of shares owned by the Rajawali Corporation in PT Excelcomindo Pratama (XL), the third largest cellular telephone operator in Indonesia.

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