Deals
Telkom Indonesia Weigh Sale of Payments Unit Stake, Sources Say
- Sale of stake in Finnet could boost fintech unit’s growth
- A deal may value unit at $100 million to $150 million
This article is for subscribers only.
PT Telkom Indonesia is considering selling a stake in PT Finnet Indonesia that could value the state-owned telecommunications firm’s fintech unit at about $100 million to $150 million, according to people familiar with the matter.
The Jakarta-based giant may introduce a new investor to help raise cash for Finnet while boosting its growth, the people said, asking not to be identified as the information is private. PT Mekar Prana Indah, a subsidiary of Bank Indonesia’s employee welfare foundation which owns a minority stake in Finnet, could also join the stake sale, one of the people said.