Measuring Smartfren-Moratelindo Merger in 5G Telco Business

By Editorial Team 02/06/2021
Smartphone and Global Internet
Summary

PT Smartfren Telecom Tbk (FREN) plans to become a 5G telecommunications provider in Indonesia. This plan pushes the Sinar Mas Group's cellular operator to synergize or merge with PT Mora Telematika (Moratelindo). Smartfren's management has revealed this merger plan in a public disclosure to the stock market regulator.

In this business merger scheme, Smartfren's subsidiary PT Smart Telecom (Smartel) will carry out equity participation in Moratelindo. This equity participation is carried out by purchasing new shares issued from the Moratel portfolio. The number of new shares acquired is equivalent to 20.5 percent of Moratel's total issued capital. The transaction value for the purchase of 20.5 percent of the new shares is reaching Rp 360 billion.

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