TEHRAN (FNA)- Telekomunikasi Indonesia (Telkom) is looking to acquire a stake in Iran’s national phone operator, the Telecommunication Company of Iran (TCI).
The Iranian government sold a 5% stake in TCI via an initial public offer earlier this year and is looking to reduce its stake further by way of a sale to an overseas investor.
“Telkom is ready to become its strategic partner. It is not yet certain how many shares we will acquire but if they (Iran) are willing to release up to 20% it is not impossible for us to participate,” Telkom’s chief commissioner, Tanri Abeng, told Antara News.
Telkom plans to buy shares via its subsidiary PT Telkom Internasional Indonesia (TII).
“The establishment of TII is part of the company’s strategy to go international to increase its non-organic income growth,” Tanri said.
TCI is the monopoly fixed line operator in Iran and also dominates the cellular market through its subsidiary MCI.