Singapore Telecommunications (SingTel) has rejected claims that it is currently in talks with PT Telekomunikasi Indonesia (Telkom) to sell its 35% stake in mobile unit Telkomsel.
In an email to TelecomFinance, a SingTel spokesperson said: “SingTel has…
Singapore Telecommunications (SingTel) has rejected claims that it is currently in talks with PT Telekomunikasi Indonesia (Telkom) to sell its 35% stake in mobile unit Telkomsel.
In an email to TelecomFinance, 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. There were no discussions with respect to any sale of our stake in Telkomsel, formal or informal.”
Sudiro Asno, Telkom’s chief financial officer, was quoted saying during a press conference on Wednesday that there were currently informal talks between the government, Telkom and SingTel, but that a sale would depend on the stake value.
He reportedly added that an adviser could be appointed this month.
Back in July the Indonesian government had reportedly approved a plan by incumbent Telkom to buy back the shares of Telkomsel from SingTel, as the Indonesian company is facing growing competition in the mobile market.
But SingTel has always reaffirmed its intention to remain a long-term strategic investor in Indonesia.
Telkomsel is 65%-owned by Telkom, which in turn is majority-owned by the Indonesian government, and 35%-controlled by SingTel, the Singapore-based mobile giant.
Telkom could not be reached for comment before the press deadline.
