JAKARTA (Yosefardi) – Investors focus buying in shares of PT Telekomunikasi Indonesia (Telkom) Tbk (TLKM) this morning following media report about the acquisition over a publicly-listed distribution company.
At 10.32 am Jakarta time, TLKM jumped 5.92% to Rp2685 per share with over 109 million shares exchanged hands. TLKM had gained 25% year to date.
Media reported this morning that Telkom mulls, through its subsidiary PT PINS Indonesia, to acquire PT Tiphone Mobile Indonesia Tbk (TELE), a strategic effort for expanding Telkom’s distribution division.
PINS in now talk with TELE and expect to buy 10-20% shares of TELE. Telesindo Shop, unit of TELE, and Telkomsel, unit of Telkom, had last year built 200 outlets.