Friday, January 15, 2010

Telkom will divest Mitratel

PT Telekomunikasi Indonesia Tbk plans to sell PT Dayamitra Telekomunikasi (Mitratel) stocks to public for balancing the portfolio and optimize the corporate value.
Mitratel will buy 29,781 telecommunication towers owned by PT Telekomunikasi Selular (Telkomsel). Now, Singapore Telecom Mobile Pte Ltd (Singtel) possess 35 percent of Telkomsel shares and the remaining owned by Telkom.
Mitratel is deemed subsidiary firm focusing on development and leasing of telecommunication towers. Since December 3, 2004, Telkom owns 100 percent Mitratel stocks.
On August 18, 2009, Telkom plans to acquire 80 percent telecommunication towers shares, PT Solusindo Kreasi Pratama (Indonesiantower) through Mitratel.
But, on December 4, 2009 Telkom said the acquisition scheme was called off due to the failure of some terms and condition fulfillment.
To prepare IPO, Mitratel will buy all Telkomsel's telecommunication towers. In quarter III/2009 the number of base transceiver station (BTS) of Telkomsel was 29,781, or rose 19 percent from 2008. The widespread networks made Telkomsel have almost 80 million customers or grows by 32 percent as from quarter III/2009.
Telkom is currently discussing the acquisition plan of Telkomsel telecommunication towers with SingTel.

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