Telkom may acquire Indosat

20 Apr 2006

The vice president of PT Telekomunikasi Indonesia (Telkom), Jusuf Kalla, says his company may buy a majority stake in PT Indosat from Singapore Technologies Telemedia (STT) to help the government regain control over the operator. According to local news reports, Kalla says that whilst the government does not have the cash to buy Indosat, Telkom could afford to do it. He wants the state to buy back Indosat’s shares as the company is strategically important to the country. Indosat is the second largest player in the mobile market and also owns PT Apllikanusa Lintasarta, a company which offers banking and financial data networking services.

Indonesia, Indosat Ooredoo (incl. IM2), Telkom Indonesia