Telkom calls off purchase of CamGSM stake

10 Oct 2011

PT Telekomunikasi Indonesia (Telkom) has said it has cancelled plans to acquire a majority stake in Cambodian mobile operator CamGSM, local newspaper The Phnom Penh Post reports, citing a statement from Telkom finance director Sudiro Asno. First reported in late 2010, the deal was expected to be completed by the first quarter of 2011. The Indonesian mobile operator reportedly completed due diligence on CamGSM in May, with negotiations with CamGSM’s parent, Royal Group of Cambodia, said to be ongoing since then. However, the deal has now been called off due to differences over the price of the stake. TeleGeography’s GlobalComms Database states that 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%). The same month it was awarded a 25-year (extended to 35 years in 1999) GSM-900 licence and services were launched in March 1997 under the Mobitel banner. As part of a wider strategy to divest its operations in the Asian market, MIC sold its stake in CamGSM to the Royal Group in August 2009 for USD346 million in cash, raising its local partner’s shareholding to 100%.

Cambodia,Telkom Indonesia, CamGSM (Cellcard),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share