Telkom Indonesia to spin off wholesale fibre connectivity business in $2.16 billion deal
The logo of Indonesia's largest telecommunications services company PT Telekomunikasi Indonesia (Telkom) is seen at Plasa Telkom building in Jakarta, April 30, 2018. REUTERS/Beawiharta
Telkom Indonesia agreed on Tuesday to partially spin off its wholesale fibre connectivity business to its subsidiary Telkom Infrastruktur Indonesia in a deal valued at 35.787 trillion rupiah ($2.16 billion).
The transaction is a material and affiliated party transaction under domestic rules and will have no significant impact on the financial conditions of the company, Telkom Indonesia said in a statement.
The spin-off will help improve business focus and optimize the utilization of fibre optic network assets.
($1 = 16,570 rupiah)
Source: Reuters
