Pacnet purchase decision in July

23 May 2012

Telkom Indonesia will make a decision on its proposed acquisition of international carrier Pacnet in July, Dow Jones Newswires reports. Due diligence will be finished by the end of June, according to Telkom’s finance director Honesti Basyir, who added that ‘in July we’ll make a decision to buy or not.’ Last week Telkom’s chairman, Jusman Syafii confirmed that his company was weighing up a takeover deal but denied it had already submitted a bid for the Hong Kong/Singapore-based undersea cable operator, which according to the Indonesian firm is willing to put up to 100% of its shares on the table.

Hong Kong, Singapore, Pacific Internet (PacNet) Australia, Pacnet, Pacnet (Malaysia), Telkom Indonesia