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MarketScreener Homepage  >  Equities  >  INDONESIA STOCK EXCHANGE  >  Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk    TLKM   ID1000129000

PERUSAHAAN PERSEROAN (PERSERO) PT TELEKO

(TLKM)
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Exclusive: Malaysia's Axiata in talks to buy smaller Indonesia telecom rival - CEO

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05/23/2020 | 06:59am EDT
FILE PHOTO: A woman walks past the Axiata headquarters building in Kuala Lumpur

By Krishna N. Das

Malaysian telecommunications company Axiata Group is in talks to buy a smaller rival in Indonesia in a share-swap deal to cut costs and competition in its biggest market, as COVID-19 hammers businesses, its CEO told Reuters.

After PT Telekomunikasi Indonesia Tbk, Axiata unit PT XL Axiata Tbk is the second-biggest player by subscriber numbers in Southeast Asia's most populous country. Axiata is followed by PT Indosat Tbk, PT Smartfren Telecom Tbk and the local telco unit of Hong Kong conglomerate CK Hutchison Holdings Ltd.

"Except for the biggest player, I can tell you right now we are talking to all for some kind of an arrangement," Axiata Chief Executive Jamaludin Ibrahim told Reuters in an interview on Saturday over Microsoft Teams, declining to specify a target.

"I can't imagine buying two, and you don't need to anyway."

PT Indosat, with a market capitalisation of 10.68 trillion rupiah ($727 million), PT Smartfren, valued at 21 trillion rupiah (1.2 billion pounds), and the local unlisted business of Hutchison, could not immediately be reached for comment.

Jamaludin said Axiata Group, with a market capitalisation of about $8 billion, had done some due diligence last year, and information from that could be "partially" useful if a deal were to materialise this year.

Jamaludin, who retires later this year, said Axiata was looking for deals in Malaysia and Sri Lanka too. The company also operates in Bangladesh, Cambodia, Nepal, Pakistan, Myanmar, Thailand, Laos and the Philippines.

"I hope before I retire, at least one country happens. Either Malaysia, Indonesia or Sri Lanka," he said. "COVID-19 makes it more a necessity to consolidate, even more than before, and therefore to discuss with all parties becomes quite imperative."

Axiata, majority-owned by Malaysian sovereign wealth fund Khazanah Nasional Bhd [KHAZA.UL] and other state-linked funds, in September called off talks with Norway's Telenor ASA for a non-cash deal to create Southeast Asia's largest telecoms operator. No reason was given for ending the talks.

"We are not ruling out" further talks with Telenor, Jamaludin said, "but at this point of time we are not discussing seriously with them."

(Reporting by Krishna N. Das; Editing by William Mallard)

Stocks mentioned in the article
ChangeLast1st jan.
AXIATA GROUP 0.00% 3.74 End-of-day quote.-9.66%
CK HUTCHISON HOLDINGS LIMITED 4.48% 53.6 End-of-day quote.-27.86%
HOPE, INC. 0.08% 2624 End-of-day quote.-18.51%
MICROSOFT CORPORATION 2.34% 187.2 Delayed Quote.15.99%
OOREDOO Q.P.S.C. -0.65% 6.755 End-of-day quote.-4.59%
PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK -2.12% 3230 End-of-day quote.-18.64%
PT INDOSAT TBK 7.18% 2240 End-of-day quote.-23.02%
PT SMARTFREN TELECOM TBK 1.01% 100 End-of-day quote.-27.54%
PT XL AXIATA TBK 3.02% 2730 End-of-day quote.-13.33%
TELENOR ASA 1.47% 152.05 Delayed Quote.-3.43%
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Financials
Sales 2020 139 401 B 9,90 B 9,90 B
Net income 2020 20 541 B 1,46 B 1,46 B
Net Debt 2020 36 608 B 2,60 B 2,60 B
P/E ratio 2020 15,5x
Yield 2020 5,12%
Capitalization 319 971 B 22 829 M 22 718 M
EV / Sales 2019
EV / Sales 2020 2 296x
Nbr of Employees 24 272
Free-Float 45,9%
Chart PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK
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Technical analysis trends PERUSAHAAN PERSEROAN (PERS
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 22
Average target price 4 056,59 IDR
Last Close Price 3 230,00 IDR
Spread / Highest target 53,3%
Spread / Average Target 25,6%
Spread / Lowest Target -10,2%
EPS Revisions
Managers
NameTitle
Ririek Adriansyah President Director
Rhenald Kasali President Commissioner
Harry Mozarta Zen Finance Director
Zulhelfi Abidin Director-Network & IT Solution
Margiyono Darsasumarja Independent Commissioner
Sector and Competitors