PT Telekomunikasi Indonesia (Telkom) is in talks to acquire a majority stake in Cambodia’s largest mobile operator by subscribers, CamGSM, in a deal that could be worth over US$500 million.
According to reports, the planned acquisition of CamGSM would value the cellco at around US$1 billion.
According to Tanri Abeng, Telkom’s chief commissioner, he hopes that the process of acquisition will be completed by the first quarter next year. The company has made it through the bidding process and they are now in talks to get financial details done, but they are surely going to take a majority stake.
CamGSM was established in April 1996 as a joint venture between Luxembourg’s Millicom International Cellular (MIC, 58.4%) and the Royal Group of Cambodia (41.6%).