SingTel price for Telkomsel confirmed

Rumoured since Friday, SingTel will confirm a $601 million acquisition of 22.3% of Telkomsel

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 to react...

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