Sep 13, 2011

Telkom: No approval to buy CamGSM

Indonesia's largest telecommunication operator PT Telekomunikasi Indonesia Tbk (Telkom) is considering to buy companies of information technology and media in a bid to provide a fasten services.
Telkom needs Rp1 trillion cash to acquire the target companies. However, Telkom declines to further explain about the target companies.
Regarding to the proposed acquisition of Cambodian telecommunication company CamGSM, Telkom President Director Rinaldi Firmansyah, as quoted by Kontan today, said the Ministry of State Owned Enterprises, as controlling shareholder in Telkom, has not provided the approval.
"There is still no approval from the government," he said.

Disclosure: No position at the stock mentioned above.

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