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23 January 2010

Indonesia’s Telkom plans more than $107m in acquisitions

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Indonesia’s largest telecommunication firm, PT Telekomunikasi Indonesia (Telkom), plans to spend more than 1 trillion rupiah ($107 million) for acquisitions this year in attempts to strengthen its non-core business, reported the Jakarta Post.

Telkom president director Rinaldi Firmansyah said Friday that the company was eyeing to purchase three telecommunication application service providers this year.

Rinaldi said that the company had recently acquired the first company in a deal amounting to 150 billion rupiah for a 75 percent ownership stake.

“We just signed an SPA [sales purchasing agreement] today,” Rinaldi said, however refused to name the company.

He explained further that Telkom would develop the newly acquired firm to become a division that would provide an online healthcare practice (E-Health). The company has 1 million customers, he added.

Meanwhile, for the acquisition of two other firms, Rinaldi refused to elaborate on plans, citing a confidential agreement was decided during the negotiation process, but predicted that the deals would be closed this year.

“They are not telco firms but application services and data providers,” he said, adding that the company preferred to be active in acquiring non-telco firms, but preferred to be passive in terms of purchasing small telco firm, Telkom.

“If there are solid offers, we will take them,” he said.


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