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Telkom considering to buy out Bukaka Singtel.(PT Telekomunikasi Indonesia, PT Bukaka Singtel International)(Brief Article)
Indonesian Commercial Newsletter, September, 2005
Publicly listed PT Telekomunikasi Indonesia (Telkom) is studying the acquisition of PT Bukaka Singtel International. PT Bukaka Singtel is Telkom's joint operation partner for fixed telephones in eastern part of the country. The state-owned telecommunications company has named ABN Amro as its financial advisor for the buy-out plan.
Telkom Vice President Garuda Sugardo said the acquisition plan became more serious after it received offer from Singapore Telecommunications, a shareholder of Bukaka. The joint operation contract has been running since 1995 and will end in 2010 without the acquisition plan. PT Bukaka Singtel is 40% owned by Singapore Telecommunications and 60% by PT Bukaka Telekomindo International.
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