Deputy Minister Of BUMN II Tiko Calls Merger IndiHome-Telkomsel Makes Singtel Shares Diluted

Deputy Minister of SOEs II Kartika Wirjoatmodjo. (Photo: Doc. Antara)

JAKARTA - PT Telkom Indonesia (Persero) Tbk plans to merge or merge IndiHome services with its subsidiary PT Telkomsel. The merger of these two businesses will have an impact on Singtel's share ownership, Singapore in Telkomsel. Deputy Minister of BUMN II Kartika Wirjoatmodjo said the merger process, where IndiHome will be removed from Telkom, and merged with Telkomsel. Later it will be validated to be compared with Telkomsel's valuation. So that by end-result it will later occur in dilution of Singtel's ownership in Telkomsel. This will reduce part of Singtel's share ownership in Telkomsel, he said in a meeting with Commission VI of the DPR, Parliament Complex, Senayan, Jakarta, Monday, April 3. Even so, Tiko, Kartika's nickname, admitted that he could not reveal what percentage of Singtel's shares would be in Telkomsel. As is known, based on Telkomsel's 2021 financial report, Singtel has 35 percent Telkomsel's shares, while 65 percent. The rest is owned by Telkom. On that occasion, Tiko said that Telko must transform from a telecommunications company into a digital infrastructure company. Thus, the merger of these two companies became a must. During the last four years we tried to transform Telkom from a telecommunications company into an infrastructure digital company,'' said Tiko. Meanwhile, Telko Indonesia President Director Ririek Adriansyah ensured that the merger of this business would not lead to termination of employment (PHK). For human resources there will be a later transfer from Telkom to Telkomsel. One thing I can guarantee in this honorable forum there will be no reduction of employees,' said Ririek.