Setiawan Djody, chairman and chief executive of the Indonesia based Setdco Group, has bid $1.6 billion for SingTel’s 35 per cent stake in Indonesian mobile service provider Telkomsel.

Setiawan Djody, chairman and chief executive of the Indonesiabased Setdco Group, has bid $1.6 billion for SingTel’s 35 per cent stake in Indonesian mobile service provider Telkomsel. However, SingTel has reportedly dismissed the offer.