Incumbent Telekomunikasi Indonesia (Telkom) has earmarked Rp1 trn (US$114m) for acquisitions this year, CEO Rinaldi Firmansyah told the Jakarta Post.
One of its targets reportedly includes a Cambodian company, which is being eyed by three other firms. A…
Incumbent Telekomunikasi Indonesia (Telkom) has earmarked Rp1 trn (US$114m) for acquisitions this year, CEO Rinaldi Firmansyah told the Jakarta Post.
One of its targets reportedly includes a Cambodian company, which is being eyed by three other firms. A few months ago, Telkom had declared its interest in Cambodian cellco CamGSM.
The Cambodian market is currently home to eight mobile operators although consolidation seems to be underway after Smart Mobile and Star-Cell, respectively numbers five and number seven, merged their operations at the beginning of the year.
In the meantime, Telkom is reportedly reconsidering its US$1bn CDMA deal with local operator Bakrie Telecom.
Back in October, it was reported that Bakrie would acquire the CDMA assets of Telkom before the end of 2010 in a share swap deal.
Under the deal, Bakrie Telecom was expected to issue new shares and swap them for Telkom’s CDMA assets worth between Rp7trn (US$785m) and Rp9trn (US$1bn).
But the country’s competition commission expressed concerns, saying the deal could lead to a monopoly of the Indonesian CDMA market.
