PT Telkom Indonesia (Persero) Tbk (Telkom) together with its subsidiary, PT Telkom Infrastruktur Indonesia (TIF) has signed a Conditional Spin-off Agreement (CSA) as a milestone in the process of separating part of the Wholesale Fiber Connectivity Business and Assets from Telkom to TIF on Monday (20/10) in Jakarta.
This strategic move is part of Telkom's corporate action toward a strategic holding focused on strengthening the foundations of its digital infrastructure business, creating added value for stakeholders by optimizing assets, increasing operational and investment cost efficiency, and unlocking value through infrastructure monetization and potential strategic partnerships. This initiative also affirms Telkom's commitment to supporting the acceleration of the national agenda of equitable connectivity access in Indonesia.
After the corporate action is implemented, TIF will own more than 50% of Telkom's total fiber network infrastructure assets which include the access, aggregation, backbone, and other supporting infrastructure segments, with a business transaction and asset value reaching Rp. 35.8 trillion. Although Telkom owns more than 99.9% of TIF shares, TIF is committed to operating neutrally in providing wholesale fiber connectivity services to external and internal TelkomGroup customers to ensure the availability of high-quality connectivity with wide coverage that is aligned with the company's strategic direction.
Telkom views this move as in line with the dynamics of the global telecommunications industry. Telkom President Director Dian Siswarini explained that this separation is a strategic effort by Telkom to respond to the rapid digital transformation and the high demand for high-capacity connectivity. "The existence of TIF not only strengthens TelkomGroup's position as a major digital infrastructure provider in Indonesia, but also enables us to deliver next-generation, more competitive services and provide a better experience for customers," Dian explained.
The approach adopted by Telkom is in line with global best practices. Several major global telecommunications operators such as Telstra (Australia), Telecom Italia (TIM), Telefonica, O2, and CETIN (Czech Republic) have proven successful in increasing efficiency, valuation, and the potential for strategic partnerships by establishing separate network infrastructure business management entities. "This strategic step, which is in line with global trends, is expected to enable TIF to present a more focused, transparent, and competitive business structure, which in turn will strengthen business competitiveness in the global market and create added value for stakeholders," Dian added.
In line with this vision, I Ketut Budi Utama, President Director of PT Telkom Infrastruktur Indonesia, stated that TIF is ready to play a role as the backbone of Indonesia's digital connectivity. "This separation provides momentum for TIF to operate more focused and efficiently in managing network infrastructure. We are committed to expanding infrastructure coverage and encouraging continuous innovation so that we can provide reliable, transparent, and competitive wholesale connectivity services, while also opening up wider collaboration space for telecommunications industry players," said Ketut.
In carrying out its business activities, TIF uses the brand name "InfraNexia" as its corporate identity, which means "Indonesia's infrastructure connection." This name emphasizes TIF's commitment to being a driving force in optimizing the utilization of fiber network infrastructure in Indonesia. With a range of wholesale fiber connectivity products, including Metro-E, SL-WDM, Global Link, IP Transit, Passive Access, VULA, and Bitstream, TIF also continues to develop white label FTTX services to meet the needs of wholesale customers.
"We want to ensure that TIF's presence can provide real added value, not only for wholesale customers, but also for the national digital ecosystem as a whole," Ketut concluded.
Following the signing of the CSA, a series of preparatory processes for the separation of some of the wholesale fiber connectivity businesses and assets will begin immediately. TelkomGroup guarantees that this process will be conducted transparently and in accordance with applicable laws and regulations, including compliance with regulations from the Financial Services Authority (OJK). To support the success of this transaction, Telkom is collaborating with professional partners. BNI Sekuritas (BNIS) acted as Telkom's financial advisor, providing guidance on valuation and strategy, while Ali Budiardjo, Nugroho, Reksodiputro (ABNR) acted as Telkom's legal advisor.
Photo Caption: Infranexia, which is the new identity of PT Telkom Infrastruktur Indonesia (TIF) as a provider of Wholesale Fiber Connectivity.
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