State-controlled PT Telekomunikasi Indonesia Tbk has agreed to pay about $300 million to purchase Pacific island Guam's telecom and pay-television operator GTA, people familiar with the matter told Reuters, in what will be the biggest overseas acquisition by the Indonesian firm.Earlier this month Indonesia's biggest telecom operator, known as Telkom, with a market value of $21.7 billion, agreed to buy GTA from Japanese private equity firm Advantage Partners without disclosing the deal's value. The people familiar with the matter declined to be identified as the deal value wasn't public. The acquisition comes as Telkom gears up efforts to expand overseas operations after a raft of mostly smaller deals in Indonesia in the past five years. Indonesian telecom firms face stiff competition and high operating costs at home, while the government is seeking consolidation in the sector.Overall, the company has spent about $2.2 billion on mergers and acquisitions since 2005, excluding the latest deal, according to Thomson Reuters data. Telkom's appetite for overseas deals comes as the Indonesian government also wants it to lead a planned $24 billion broadband expansion in the country over the next five years.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TELKOM) is engaged in providing local, domestic and international telecommunication service in Indonesia. Shares of TLK fell by 0.39% or $-0.17/share to $42.89. In the past year, the shares have traded as low as $40.20 and as high as $48.75. On average, 173712 shares of TLK exchange hands on a given day and today's volume is recorded at 86657.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI traded higher by 0.36% or $0.14/share to $39.38. In the past year, the shares have traded as low as $34.88 and as high as $42.64. On average, 827067 shares of TRI exchange hands on a given day and today's volume is recorded at 462070.
Thomson Reuters Corporation is a provider of intelligent information for businesses and professionals. Shares of TRI traded higher by 0.44% or $0.21/share to $48.32. In the past year, the shares have traded as low as $38.29 and as high as $53.00. On average, 689588 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 611519.
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