Telkom Indonesia Denies Plans for Mobile Network IPO
Published on: 29th Nov 2013
By: Ian Mansfield
Indonesia's Telekomunikasi (Telkom) has refuted reports that it is planning a stock market listing for its mobile network subsidiary Telkomsel.
The Jakarta Globe had suggested that Telkom was looking at a stock market listing for Telkomsel, which it owns a 65% stake in.
The landline operator said in a statement that "up to now we do not have plan to sell Telkomsel's shares".
The company did however confirm that it has plans to unlock some of its portfolio's value through either a partnership or IPO. The company is therefore looking at options for its tower business, Mitratel.
Telkom added that following the Mitratel deal, it will spin off some of Telkomsel's towers -- although it will need approval from Telkomsel's 35% shareholder, Singapore's Singtel.