Mitratel, a subsidiary of state-owned of PT Telekomunikasi Indonesia (Telkom), has sealed a Rp1 trillion (US$117m) loan from Bank Rakyat Indonesia (BRI), according to the Jakarta Post, citing a BRI statement.
The six-year facility will reportedly be…
Mitratel, a subsidiary of state-owned of PT Telekomunikasi Indonesia (Telkom), has sealed a Rp1 trillion (US$117m) loan from Bank Rakyat Indonesia (BRI), according to the Jakarta Post, citing a BRI statement.
The six-year facility will reportedly be used to build and buy telecom towers.
Both Telkom and BRI could not be reached for comment before the press deadline.
The Jakarta Post explained that, so far, BRI has in total allocated Rp6.8 trillion (US$798m) to the Telkom Group, including Rp5 trillion (US$587m) to Telkom, Rp800bn (US$94m) to Telkomsel, the mobile unit of Telkom, and Rp1 trillion to Mitratel.
In separate news, the Indonesian government recently approved a plan by Telkom to buy back the shares of Telkomsel from Singapore Telecommunications (SingTel), reports wrote.
Telkomsel is 65%-owned by Telkom, which in turn is majority-held by the Indonesian government, and 35%-controlled by SingTel, the Singapore-based mobile giant.
But SingTel may not be willing to sell its stake in Telkomsel. In an email to TelecomFinance at the end of June, a SingTel spokesperson said: “SingTel has a good partnership with both Telkom and Telkomsel and we continue to be a long term strategic investor in Indonesia.”
