Tuesday, 25 November, 2008 | 20:24 WIB
TEMPO Interactive, Jakarta: The state-run PT Telekomunikasi Indonesia said on Tuesday it is completing reviews and studies in a bid to take over several local multimedia companies in the country.
Rinaldi Firmansyah Chief Director of Telkom at the start of Investor Summit 2008 in Jakarta said “reviews on the acquisitions are almost done,” although he declined to elaborate on the number of companies targetted in the acquisition. Rinaldi said the review process began earlier this month by collecting data from the pubic, banks, and the companies.
Finance Director of the company Sudiro Asno said Telkom will seek loans to finance 30-40 percent of its total acquisition plan from Bank Rakyat Indonesia, Bank Mandiri, Bank Negara Indonesia, and Bank Jabar.
Rinaldi also mentioned the company's plan to buy a portion of shares from Telecommunication Company of Iran, a government controlled company. Telkom’s chief commissioner Tanri Abeng told Antara news agency, "Telkom is ready to become its strategic partner. It is not yet certain how many shares we will acquire but if they (Iran) are willing to release up to 20 percent it is not impossible for us to participate."
Wahyudin Fahmi | Antara
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