PT Centratama Telekomunikasi Indonesia Tbk (JKSE:CENT) and PT Centratama Menara Indonesia agreed to acquire PT Network Quality Indonesia from Sugiman Halim and Muhammad Fitno on September 28, 2016. The agreement will be signed on October 3, 2016. PT Centratama Telekomunikasi signed an agreement related to the transaction on October 3, 2016. PT Centratama Telekomunikasi will acquire 0.5 million shares or 83.333% stake from Sugiman Halim for IDR 87.9 billion and 0.1 million shares or 26.667% stake from Muhammad Fitno for IDR 17.6 billlion. PT Centratama Menara Indonesia will acquire 1 share from Muhammad Fitno for IDR 0.2 million. IDR 13.2 billion will funded from internal cash of PT Centratama Telekomunikasi and IDR 92.3 billion from public offering proceeds. The transaction is subject to approval from the shareholders of PT Network Quality Indonesia, rights offering approval from shareholders of PT Centratama Telekomunikasi Indonesia, acquisition approval from creditors of target and completion of rights offering of PT Centratama Telekomunikasi Indonesia. On November 11, 2016, shareholders of PT Centratama Telekomunikasi Indonesia approved the transaction. KAP Purwantono, Sungkoro & Surja acted as an accountant and KJPP Martokoesoemo Prasetyo & Rekan acted as an appraiser for PT Centratama Telekomunikasi Indonesia. PT Centratama Telekomunikasi Indonesia Tbk (JKSE:CENT) and PT Centratama Menara Indonesia cancelled the acquisition of PT Network Quality Indonesia from Sugiman Halim and Muhammad Fitno on September 28, 2017.