Phone
Telkom, as the company is known, signed a conditional sales-and-purchase agreement with Elnusa yesterday, Telkom spokesman Eddy Kurnia said by telephone in Jakarta today. Kurnia declined to disclose the value of the investment in Infomedia, which also runs Telkoms “Yellow Pages” telephone directory.
State-owned Telkom is seeking to boost revenue from outside its mobile-phone business since rising competition forced companies to reduce charges. Profit at the Bandung, West Java- based company fell 22 percent to 2.5 trillion rupiah ($242 million) last quarter, partly because lower call rates outweighed the growth in mobile-phone subscribers.
The Infomedia acquisition is expected to be completed in August, Kurnia said. Telkoms unit, PT Telekomunikasi Selular, is Indonesias largest mobile-phone operator.
Elnusas corporate secretary, Heru Samodra, couldnt be reached at his office. Elnusa is an oil-drilling services provider.