(Reuters) -Telkom Indonesia agreed on Tuesday to partially spin off its wholesale fibre connectivity business to its subsidiary Telkom Infrastruktur Indonesia in a deal valued at 35.787 trillion rupiah ($2.16 billion). The transaction is a material and affiliated party transaction under domestic rules and will have no significant impact on the financial conditions of the […]
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Telkom Indonesia to spin off wholesale fibre connectivity business in $2.16 billion deal
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(Reuters) -Telkom Indonesia agreed on Tuesday to partially spin off its wholesale fibre connectivity business to its subsidiary Telkom Infrastruktur Indonesia in a deal valued at 35.787 trillion rupiah ($2.16 billion).
The transaction is a material and affiliated party transaction under domestic rules and will have no significant impact on the financial conditions of the company, Telkom Indonesia said in a statement.
The spin-off will help improve business focus and optimize the utilization of fibre optic network assets.
($1 = 16,570 rupiah)
(Reporting by Rishav Chatterjee and Sneha Kumar in Bengaluru; Editing by Alan Barona and Sherry Jacob-Phillips)