Indonesian telecommunications firm Telekomunikasi Indonesia (Telkom) is sourcing funds to the tune of Rp 10 trillion from its internal treasury for a share buyback plan. For this purpose, Telkom is monitoring its stock price movement. If its value per share falls to within the Rp 9,000–Rp 10,000 range, the company will pursue its buyback plan. Meanwhile, Telkom plans to increase its shareholding in Patra Telekomunikasi Indonesia (Patra) to 80 per cent. In this regard, Telkom and PT Elnusa Tbk (Elnusa) have signed a conditional share sale and purchase agreement under which Elnusa will sell its 40 per cent stake for Rp 45.6 billion to Telkom. Telkom currently holds a 40 per cent stake in the satellite communications services provider.
