Telkom hints at buying out SingTel’s stake in Telkomsel

24 Jun 2011

Indonesian telco PT Telekomunikasi Indonesia (Telkom) is reportedly looking to buy out SingTel’s stake in their jointly-owned mobile venture, PT Telkomsel. The cellco, Indonesia’s largest mobile operator with more than 100 million subscribers, is 65%-owned by Telkom, with SingTel owning the remainder. Dow Jones Newswires quotes Telkom chief executive Rinaldi Firmansyah as saying: ‘We are in the process of selecting a financial advisor that will advise us the best way to buy back the Telkomsel stake’. It is understood that Telkom hopes to complete the buyback study later this year.