Unless the tragedy in New York causes SingTel to postpone, the Singapore company has agreed terms with KPN to buy its stake in the leading Indonesian mobile operator, Telkomsel.
SingTel has agreed to buy KPN's 22.3% stake in Telkomsel for $601 million, a price which on the surface may appear rich.
Telkomsel is 77% owned by PT Telkom, the nation's major telco. PT Telkom recently bought 35% of Telkomsel from Indosat for $945 million, which valued the company at $2.7 billion.
SingTel is buying its stake in Telkomsel at the same valuation even though telecoms valuations have plunged 30% since February when PT Telekom bought in.
This may lead some analysts...
