Telkom Indonesia, the country’s incumbent, has submitted a bid to acquire Pacnet, which would value the Asian undersea cable operator at US$1bn, including debt.
This is according to a Reuters report citing sources.
Telkom has reportedly hired…
Telkom Indonesia, the country’s incumbent, has submitted a bid to acquire Pacnet, which would value the Asian undersea cable operator at US$1bn, including debt.
This is according to a Reuters report citing sources.
Telkom has reportedly hired Credit Suisse and Goldman Sachs as financial advisers and is expecting to close the deal by the end of the second quarter.
The company could not be reached for comment before the press deadline.
Telkom previously announced intentions to expand across Asia. Most recently, Rinaldi Firmansyah, Telkom’s CEO, was quoted saying that the company was looking to enter new markets in Southeast Asia, particularly in Myanmar.
Before that, Telkom had been close to acquiring a stake in Cambodian mobile operator CamGSM but the deal failed on reported valuation issues.
Plans for tower unit IPO
Meanwhile, Telkom is considering listing its tower unit Mitratel, the company’s CFO, was quoted telling The Jakarta Globe.
A deal could take place in the second half of next year.
Indonesia is home to many towercos, which have in recent months sought to monetise their tower assets, either via sales or IPOs.
In early February, Indonesia’s Tower Bersama confirmed it would buy 2,500 towers from local towerco Indosat for US$519m.
