PT Telekomunikasi Indonesia (Telkom) is aiming to complete its acquisition of Guam-based full-service telecoms operator GTA by the end of the first quarter of 2016. The Jakarta Globe cites Honesti Basyir, Telkom’s director for wholesale and international services, as saying that the deal is awaiting approval from the US Federal Communications Commission (FCC). The Indonesian company revealed in June that it had reached a definitive agreement to acquire GTA from funds serviced by Japanese private equity firm Advantage Partners, and the deal was cleared by Guam’s Public Utilities Commission (PUC) in August. ‘We’re currently waiting for approval from the United States, but there’s not clear estimate on that because it’s not within our control … Based on our observation of past deals, the best scenario is that we can close the deal by the first quarter of 2016,’ Honesti Basyir said. Under the terms of the transaction, Telkom USA (established in December 2013 as an international arm of Telkom) will acquire GTA’s parent company TeleGuam Holdings. Telkom is using proceeds from its IDR7 trillion (USD514.5 million) bond sale in July to fund the acquisition.
TeleGeography’s GlobalComms Database states that Advantage Partners acquired GTA from Shamrock Capital Advisors in June 2011. The latter bought GTA from the government in January 2005.