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Indonesia's Telkom cancels plan to buy New Zealand's 2 Degrees

Wednesday, January 21, 2015 - 07:28
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Indonesia's biggest telecommunication operator PT Telekomunikasi Indonesia Tbk said on Tuesday it had cancelled its plan to acquire New Zealand's 2 Degrees Mobile Ltd due to a disagreement on price.

[JAKARTA] Indonesia's biggest telecommunication operator PT Telekomunikasi Indonesia Tbk said on Tuesday it had cancelled its plan to acquire New Zealand's 2 Degrees Mobile Ltd due to a disagreement on price.

Telkom had previously planned to acquire a stake of between 25 per cent and 30 per cent in 2 Degrees, domestic media reported in November last year.

Telkom is looking for partnership opportunities with telecommunication operators in several countries, especially in Asia and the Middle East, this year, Telkom said in a stock exchange filing on Tuesday, in response to a query from the bourse.

It did not give further details.

REUTERS