Telkom to become holding company: report

Dylan Bushell-Embling
26 Nov 2010

Indonesian operator PT Telkom reportedly plans to become a holding company, with subsidiaries in towers, satellites and telecom services, by 2012.

The company has a vision of transforming into “the largest holding company” within the next two years, Viva News quotes Telkom chief commissioner Tanri Abeng as saying.

Telkom is working on an IPO of subsidiary Mitratel, with a plan to have the public entity concentrate on telecom towers. The company is negotiating with SingTel over a restructuring that would allow the sale.

Telkom is the 100% owner of Mitratel and SingTel owns a 35% stake in the parent's mobile subsidiary Telkomsel.

As part of the IPO plan, Mitratel would take over the BTS management business of Telkomsel and Telkom Flexi, another member of the Telkom group.

MORE ARTICLES ON: Indonesia, IPO, Singtel, Telkom

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