PT Tower Bersama Infrastructure Tbk (IDX:TBIG) made a mandatory tender offer to acquire 49% stake in PT Visi Telekomunikasi Infrastruktur Tbk (IDX:GOLD) on November 30, 2018. In a separate transaction, PT Tower Bersama Infrastructure Tbk entered into share purchase agreement to acquire 51% stake in PT Visi Telekomunikasi Infrastruktur Tbk from group of shareholders.

PT Tower Bersama Infrastructure Tbk made an offer to acquire a 9.04% stake in PT Visi Telekomunikasi Infrastruktur Tbk for IDR 15.8 billion on February 7, 2019. Pursuant to the terms of offer, Tower Bersama will offer IDR 556 per share and will acquire 28.4 million shares of Telekomunikasi Infrastruktur. Tower Bersama also allocated funds to pay for the acquisition. The offer period will start on February 8, 2019 and will end on March 11, 2019.

PT Tower Bersama Infrastructure Tbk (IDX:TBIG) cancelled the acquisition of 49% stake in PT Visi Telekomunikasi Infrastruktur Tbk (IDX:GOLD) on November 30, 2019.