Telkom Indonesia stock advances with two planned subsidiary mergers

Published on 11/12/2026 at 09:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Telkom Indonesia stock is tied to two planned subsidiary mergers under its TLKM30 restructuring program. Approvals remain outstanding.

Merger plans reshape Telkom

Telkom plans to merge Telkominfra into Telkom Akses and NSI into GSD.
The transactions support the shift from an operating holding to a strategic holding structure under TLKM30.
Shareholder meetings and clearance from Indonesia's Ministry of Law remain necessary before completion.
Telkom aims to streamline 50 of its 68 subsidiaries by the end of 2026.

TLK, US7156841063, Illustration mit AI erstellt.

PT Telkom Indonesia (Persero) Tbk has announced two planned subsidiary mergers as part of its TLKM30 transformation program. The November 10 announcement covers the absorption of Telkominfra into Telkom Akses and the merger of Nusantara Sukses Investasi, or NSI, into Graha Sarana Duta, or GSD.

The plans were detailed by StocksToFind, citing Telkom Indonesia's newsroom announcement. The transactions are not yet complete: extraordinary general meetings of shareholders and clearance from Indonesia's Ministry of Law are still required.

Infrastructure portfolio moves together

Telkom Akses is intended to remain the receiving entity in the infrastructure transaction. Its existing fiber-access and fiber-backbone activities would be combined with Telkominfra's non-fiber infrastructure, including core networks, power solutions, submarine cable systems, base transceiver stations, IP radio and towers.

The enlarged Telkom Akses would therefore oversee a broader infrastructure platform spanning data centers, switching offices, terrestrial and submarine backbone networks, access networks, radio access networks and towers. For investors, the stated rationale is less about a new financial asset than about placing related infrastructure capabilities under one legal and operating structure.

Property structure also simplified

The second transaction would move NSI into GSD. Telkom says the merger is intended to simplify the ownership chain for its property portfolio by transferring NSI's holdings directly to GSD. The company also said that employee interests, creditor rights, customer relationships and business-partner obligations would continue under the applicable transition rules.

Both transactions form part of a shareholder-mandated streamlining program carried out through PT Danantara Asset Management (Persero). Telkom is moving from an operating holding model toward a strategic holding model in which subsidiaries have clearer mandates and accountability. Seno Soemadji, Telkom's Director of Strategic Business Development and Portfolio, said the group assesses each subsidiary by its contribution to strengthening the core business and creating value. CEO Nanang Hendarno said merger decisions undergo study, independent due diligence and tiered approvals.

Execution remains the investor test

Telkom has identified 50 of its 68 subsidiaries for streamlining. The company said 28 entities had already been reorganized before the latest announcement, leaving 22 in the remaining program, with completion targeted before the end of 2026. The latest mergers add an execution milestone to that timetable rather than changing the group's financial guidance.

Telkom Indonesia stock traded at 10.60 euros on Lang & Schwarz at 09:19 CET on Thursday, November 12, 2026. The next issues for investors are the shareholder votes, the regulatory clearance and the eventual evidence that the consolidated infrastructure and property structures deliver operating benefits.