Indonesia’s state-owned telecom giant PT Telkom is in the process of acquiring 10 per cent stake of PT Indosat in PT Patra Telekomunikasi Indonesia (Patrakom). The country’s largest and second largest telecommunications companies signed the sales and purchase agreement last week, valued at Rp 4.25 billion. The deal ended co-ownership of a third company between the two telecom giants, after a series of such deals made earlier, with both selling stake to each other in third companies. With the deal, Telkom’s shares will increase from 30 per cent to 40 per cent in PT Patrakom, which is involved in data distribution through VSATs.
