Telkom Streamlines Subsidiaries Through Two Simultaneous Mergers
Jakarta, CNBC Indonesia — PT Telkom Indonesia (Persero) Tbk (Telkom) is proceeding with two merger plans: PT Infrastruktur Telekomunikasi Indonesia (Telkominfra) into PT Telkom Akses, and PT Nusantara Sukses Investasi (NSI) into PT Graha Sarana Duta (GSD). Summaries of the merger plans for both corporate actions have been announced publicly in accordance with the Limited Liability Companies Law.
The mergers follow Telkom’s commitment to accelerate streamlining in line with shareholder aspirations through PT Danantara Asset Management (Persero). They are also part of Telkom’s transformation from an operating holding company into a strategic holding company under the TLKM 30 strategic initiative. Of TelkomGroup’s 68 subsidiaries, 50 are targeted by the streamlining programme.
Telkom has so far completed the restructuring of 28 entities. With these two proposed mergers entering the corporate action stage, it will continue restructuring 22 others, with completion targeted before the end of 2026.
Telkom President Director Nanang Hendarno stressed that the accelerated streamlining process would adhere to good corporate governance principles.
“Streamlining is a shareholder mandate that we are carrying out responsibly. Every merger decision is subject to comprehensive assessment, due diligence by independent parties, and approvals at successive levels in accordance with the articles of association and applicable laws and regulations. We want to ensure every portfolio restructuring step is accountable and delivers measurable added value for TelkomGroup, shareholders and all stakeholders,” Nanang said, as quoted on Tuesday (10 November 2026).
Telkom Akses and Telkominfra have complementary business portfolios. Telkom Akses focuses on managing fibre networks, including fibre access and fibre backbone infrastructure.
Telkominfra, meanwhile, manages non-fibre infrastructure, ranging from core networks and service nodes to power solutions, submarine cable communication systems (SKKL), base transceiver stations (BTS), IP radio and towers. Both companies also provide services covering infrastructure planning, construction, operations and maintenance.
Under the merger, these portfolios will be integrated into a single entity, enabling Telkom Akses to manage a broader range of digital infrastructure, from data centres and STO facilities to terrestrial and submarine backbones, access networks, radio access networks (RAN) and towers. The integration will allow customers such as mobile operators, internet service providers, other operators and hyperscalers to obtain infrastructure services through a single partner.
The merger also creates opportunities to consolidate procurement and partner management, reduce duplicated functions and improve operational efficiency. This will strengthen TelkomGroup’s ability to support Indonesia’s connectivity and digital transformation needs.
The merger of NSI into GSD is part of efforts to simplify the ownership structure of TelkomGroup’s property portfolio. Through the corporate action, NSI’s ownership of its subsidiaries will transfer directly to GSD, simplifying layers of entities that no longer add value and making asset management more efficient.
The move also provides scope for more integrated restructuring of TelkomGroup’s property portfolio.
Overall, the streamlining programme supports Telkom’s role as a strategic holding company focused on setting strategic direction, managing the portfolio, allocating capital and creating value at group level. Subsidiaries, meanwhile, are expected to conduct operations in line with their respective mandates and business focus.
A leaner structure is expected to reduce duplicated costs, speed up decision-making and improve the transparency and measurability of each business line’s performance for investors and other stakeholders.
Telkom Strategic Business Development and Portfolio Director Seno Soemadji said all entities were evaluated against objective, measurable criteria.
“Within the strategic holding framework, each subsidiary has a clear mandate and performance accountability. We assess the entire portfolio against one measure: its contribution to strengthening the core business and creating value for TelkomGroup. The mergers of Telkominfra into Telkom Akses and NSI into GSD are the result of that evaluation, and are being carried out transparently and in accordance with applicable regulations,” he said.
Telkom said it would ensure the transition took account of employees’ rights and interests in accordance with applicable rules. Employment arrangements would consider the continuity of employment relationships and consistency with the policies and internal regulations of the receiving companies.
The rights and obligations of creditors, customers and business partners will transfer to the receiving companies, ensuring that existing services and partnerships continue. Both mergers will follow the required stages, including approval by the extraordinary general meetings of shareholders (EGMs) of each participating company and approval from Indonesia’s Ministry of Law.
“Telkom will continue restructuring other entities under the streamlining programme in stages, with assessments and independent due diligence for each entity. Further developments will be communicated to the public in accordance with applicable disclosure requirements,” he concluded.