Telkom Commissioners Reject Proposed Deal with Tower Bersama

APRIL 28, 2015

The board of commissioners of Telekomunikasi Indonesia (Telkom) has rejected the state-controlled telecom firm’s proposed sale of a 49 percent stake in its tower operator unit to Tower Bersama Infrastructure.

In October, Tower Bersama said it would get a 49 percent stake in Telkom’s unit, Dayamitra Telekomunikasi (Mitratel), under a share swap deal. Telkom’s commissioners have rejected the proposed deal, state enterprises minister Rini Soemarno told reporters on Tuesday, without giving the reason.

The Indonesian government owned 51.2 percent of Telkom as of December 2014, according to Thomson Reuters data.