Telkom Indonesia to buy Malaysian satellite operator TS Global Network

27 Nov 2017

The Jakarta Globe writes that Telkom Indonesia is to acquire a majority stake in Malaysian satellite company TS Global Network as part of its regional expansion programme. The latter is Malaysia’s largest operator of VSAT satellite communications systems, serving corporate clients in the agriculture, mining, government and banking sectors. It also operates in Brunei and Myanmar.

In a conditional sale purchase agreement signed on 24 November, Telkom’s international arm Telekomunikasi Indonesia International (Telin) will purchase up to 70% of TS Global Network’s shares for USD26 million, Andi Setiawan, Telkom’s vice president for investor relations said in a statement for the Indonesian Stock Exchange. ‘This partnership and alliance is our effort to expand in the regional market and realise our vision to be a digital telecommunications company,’ Andi said. The agreement is subject to the approval of Malaysian authorities.

Indonesia, Telkom Indonesia