State-owned telco firm Telekomunikasi Indonesia is looking to acquire minority shares in three firms from neighboring Malaysia – one of which is Singapore-listed – according to sources of local media Kontan. The telco company is reportedly preparing $369 million (IDR 5 trillion) for the potential deals.
“The deal is expected to close by the end of this year,” the source said, as quoted by Kontan, adding that the move is part of Telkom’s expansion strategy through M&As.
