Indonesia’s state-owned mobile phone company PT Telkom has cancelled plans to acquire New Zealand’s third largest mobile operator, 2 Degrees Mobile, after both companies failed to agree on the deal price.
PT Telkom revealed this to the local stock exchange when responding to a query from the bourse.
According to local media reports, PT Telkom, which offers both fixed line and mobile services in Indonesia, was looking to buy up to 30 per cent stake in 2 Degrees Mobile, which has about 1.3 million customers in New Zealand , behind rivals Vodafone (3.4 million connections) and Spark Telecom (2.1 million).
It had also been reported that Telkom had earlier targeted Spark, before entering into talks with 2 Degrees Mobile, but this could not be independently verified by DEALSTREETASIA.
PT Telkom also informed the bourse that it was looking for partnership opportunities with telecommunication operators in several countries, especially in Asia and the Middle East.