Indonesian mobile carrier PT Telkom Indonesia (Telkom) has completed its $4.8 billion infrastructure spin-off.
The company announced the completion of the second and final phase of its spin-off of InfraCo late last week, transferring its remaining network infrastructure assets to its subsidiary, InfraNexia.
– Telkom Indonesia
The first phase of the spin-off was completed back in January, when the carried transferred 50 percent of its fiber assets to InfraNexia.
According to Telkom, the transfer of the remaining 50 percent of assets was valued at IDR 49.9 trillion ($2.8 billion). In total, the value of the transfer of Telkom's network infrastructure assets is worth $4.8bn. Telkom holds a majority ownership of 99.9 percent in InfraNexia.
