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Indonesia - Nextnation terminates Indonesian publisher acquisition deal.

Telecompaper Africa/Asia

| August 28, 2009 | COPYRIGHT 2008 Financial Times Ltd. (Hide copyright information)Copyright

Malaysian mobile applications developer Nextnation Communication has announced that Godynamic Investments, Hamdan Busyairi and Syaeful Huda have applied to the Ministry of Law, Indonesia on 18 June to terminate the share sale contract on the proposed acquisition of shares in PT Alam Hijau Raya (formerly known as PT Galaksi Publishindo), Indonesia. Nextnation has previously proposed to buy the stake for a total cash consideration of IDR 95 million from Hamdan Busyairi and Syaeful Huda through its subsidiary Godynamic. The contract has been terminated due to the Current global economic crisis …

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