Indonesia’s biggest telco by revenue, Telekomunikasi Indonesia (Telkom), has revealed plans to buy back possibly all of the 35% stake held by Singapore’s SingTel in its mobile arm Telkomsel in an effort to improve the group’s profitability. Reuters quotes the Indonesian firm’s CEO Rinaldi Firmansyah as saying that the plan – put forward by the government – was approved by shareholders at yesterday’s AGM, as the operator struggles to increase profits in an increasingly saturated and competitive domestic mobile market. Full story
Telkom plans buyback of SingTel’s Telkomsel shares
Indonesia’s biggest telco by revenue, Telekomunikasi Indonesia (Telkom), has revealed plans to buy back possibly all of the 35% stake held by Singapore’s SingTel in its mobile arm Telkomsel in an effort to improve the group’s profitability. Reuters quotes the Indonesian firm’s CEO Rinaldi Firmansyah as saying that the plan – put forward by the government – was approved by shareholders at yesterday’s AGM, as the operator struggles to increase profits in an increasingly saturated and competitive domestic mobile market. Full story
