Telkom Indonesia stock faces fiber spin off and board vote

Published on 09/30/2026 at 09:32 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Telkom Indonesia stock faces a September 30 vote on a fiber spin-off and management changes. First-half revenue rose 3.9 percent to IDR 75.9 trillion.

TLK, US8796031096, Illustration mit AI erstellt.

Telkom Indonesia stock is heading into a September 30, 2026 shareholder vote on a partial fiber business spin-off and management changes. The proposed transaction would move the Wholesale Fiber Connectivity business into PT Telkom Infrastruktur Indonesia, a subsidiary that Telkom would own at 99.9999999 percent after completion, according to StockTitan.

Fiber assets move into a new structure

The electronic Extraordinary General Meeting is scheduled to start at 2:00 p.m. WIB on September 30, 2026. The filing says the Phase 2 separation is intended to create a more focused operating model, improve efficiency and strengthen transparency around infrastructure assets.

The transaction follows an earlier Phase 1 separation approved in December 2025. Existing shareholder ownership in Telkom would not change, while the infrastructure subsidiary would become the vehicle for the transferred wholesale connectivity assets and related liabilities.

Revenue rose 3.9 percent

Telkom reported first-half 2026 consolidated revenue of IDR 75.9 trillion, up 3.9 percent from the prior-year period, in its September 7, 2026 investor update published on Telkom. EBITDA increased 3.8 percent to IDR 37.5 trillion, with a 49.4 percent margin, while net income rose 1.4 percent to IDR 10.6 trillion.

The quality of earnings improved faster than reported net income: normalized net income climbed 6.2 percent to IDR 11.3 trillion. Telkom retained its 2026 guidance for normalized revenue growth of 1 to 3 percent and an EBITDA margin above 50 percent.

Analyst sentiment remains divided

MarketBeat reported on September 11, 2026 that Zacks Research downgraded Telkom from hold to strong sell, while Wall Street Zen had raised its rating from hold to buy on September 5, 2026. MarketBeat also cited a consensus sell rating, setting a cautious backdrop for the restructuring vote.

Market value and trading range

Telkom Indonesia had a market capitalization of USD 13.0 billion as of September 29, 2026. Its 52-week range was USD 13.11 to USD 23.52 on the same date, leaving the shareholder vote and the execution of the fiber restructuring as the next company-specific checkpoints.