SingTel denies talks of Telkomsel stake sale

This after Indonesia’s Telkom said SingTel is willing to sell its stake in Telkomsel.

A Reuters report said, “Singapore Telecommunications said on Thursday it was not in talks to sell its 35 percent stake in Indonesia's biggest mobile phone operator Telekomunikasi Selular (Telkomsel) to state-owned Telekomunikasi Indonesia (Telkom).”

Telkom, Indonesia's largest telecommunication firm, owns a 65 percent stake in Telkomsel.

Singtel was quoted as clarifying, "SingTel has a good partnership with both Telkom and Telkomsel and we continue to be a long term strategic investor in Indonesia. There were no discussions with respect to any sale of our stake in Telkomsel, formal or informal."

View the report here.