JAKARTA - PT Telekomunikasi Indonesia Tbk will continue to develop fiber optic business abroad, either inorganically or organically.
Telkom President Director Arief Yahya confirmed the company had canceled a planned acquisition of undersea cable company from Hong Kong, Pacnet Ltd., as rated not to provide added value to the company.
Previously, Telkom had proposed indicative offering to acquire Pacnet last month. Initially, if the company had intended to continue the acquisition, it would have proposed a final bid.
Nevertheless, the company continued to seek opportunities to acquire other companies or to develop fiber optic business in Asia, he continued.
"We cancelled our acquisition to Pacnet because it didn't provide added value, but we still continue the international fiber optic development. It could be the acquisition of another company or build own network. We still see the Asia market," he said on Wednesday (20/6/2012).
He said the state-controlled telecommunication company won't rush in expanding and won't urge to realize it this year. (T07/aph)