Indonesia’s PT Telkom has cancelled its plan to acquire New Zealand mobile operator 2degrees.
In a brief stock exchange filing on Monday, PT Telkom said the parties had failed to agree on a price.
News that PT Telkom was preparing a bid for 2degrees emerged in a local press report in November. According to Investor Daily, the Indonesian operator was planning to acquire a 25%-30% stake in New Zealand’s smallest mobile operator and hoped to finalise the deal by the end of 2014.
PT Telkom on Monday reiterated its desire to find regional partners, as part of an international expansion plan that it embarked on in 2013.
"Telkom continues to open up opportunities for cooperation with telecom operators in some countries, especially those in Asia and the Middle East," the company said.
Indeed, in August PT Telkom chief executive Arief Yahya told the Jakarta Post that his company plans to extend its Middle East presence by striking MVNO agreements with local telcos via its international subsidiary Telin.
In 2013, Telin signed a memorandum of understanding with Saudi Arabian conglomerate Al-Lama group. 1 million Indonesians currently live in Saudi Arabia and a further 1 million made a pilgrimage to Mecca in 2013, according to the Jakarta Post. However, an MVNO has yet to emerge from Telin’s deal with Al-Lama.
