Indonesian incumbent PT Telekomunikasi Indonesia (Telkom) is looking to borrow as much as Rp7 trillion (US$777m) from Bank Rakyat Indonesia to partly fund its 2011 capex plans, media reports wrote citing local newswire Antara News.
PT Telkom finance…
Indonesian incumbent PT Telekomunikasi Indonesia (Telkom) is looking to borrow as much as Rp7 trillion (US$777m) from Bank Rakyat Indonesia to partly fund its 2011 capex plans, media reports wrote citing local newswire Antara News.
PT Telkom finance director Sudiro Asno was quoted saying that the remaining 60% of its capex plans – Rp10 trillion (US$1.1bn) – would be financed by internal resources.
According to the reports, a credit agreement with the state-owned bank is expected to be signed in the first half of 2011.
Back in November, the company reportedly said it was looking to become a holding company by 2012. At the time, it also emerged that Telkom had failed to reach a deal with local operator Bakrie Telecom to sell its CDMA assets, after Indonesia’s business competition supervisory commission expressed concerns that it could lead to a CDMA monopoly.
Telkom was unavailable for comment.
