Telkom cancel to acquire Indonesia Tower

PT Telekomunikasi Indonesia Tbk has scrapped a plan to acquire as much as 80 percent of PT Solusindo Kreasi Pratama, an operator of telecommunication towers.
The plan was dropped because certain conditions were not met, Telkom said in an public statement to bourse, last week.

Telkom prepares some US$150 million or IDR1.5 trillion or 6 percent of the total capital expenditure this year of US$2.5 billion to acquire some companies particularly the local entity.

Telkom has targets to acquire PT Electronic Data Interchange Indonesia (EDI Indonesia) that now becomes the subsidiary company of PT Pelindo II. Telkom expressed its interest to acquire some 51 percent of its shares.