TEMPO.CO, Jakarta-State-owned issuer Telekomunikasi Indonesia or Telkom (IDX: TLKM) announced that it has cancelled its plan to acquire Advantage Partners' stake in AP Teleguam Holding, Inc. as previously agreed.
Andi Setiawan, Telkom vice president for investor relations, said the company and Advantage Partners decided to void their agreement.
"With this announcement, both parties will terminate the acquisition process, including the licensing process with the committee on foreign investment in the United States, Team Telecom, and the Federal Communications Commission," Andi said in a disclosure to the Indonesia Stock Exchange (IDX), Thursday, June 2, as reported by Bisnis Indonesia.
Andi said that Adventage Partners will retain its ownership in Teleguam Holding. He ensured that the termination of this agreement has no impact on Telkom's operations, legal, financial conditions, and business continuity.
AP Teleguam Holding Inc. is the holding company of GTA Teleguam, one of the telecom operators in Guam, an island in the northern Pacific Ocean.
Telkom had initially planned to expand its international business by acquiring AP Teleguam Holding through its subsidiary Telekomunikasi Indonesia International USA Inc. (Telkom USA).
