Sources close to the matter revealed that both firms are in the early stages of discussions with advisers about a potential deal valued at approximately IDR 90 trillion.
Mitratel’s shares have fallen by 17% this year, reducing its market capitalisation to roughly IDR 45 trillion, while Tower Bersama’s stock has decreased by 4%, with a current valuation of about IDR 45.8 trillion. This signals a challenging market environment for the companies, which operate significant towers in Indonesia — Mitratel managing over 39,000 sites and Tower Bersama around 23,000.
The possible revival of the merger comes amid a broader trend of telecoms consolidation in Indonesia. Recently, XL Axiata and Smartfren Telecom announced a US$6.5 billion merger, and Indosat Ooredoo merged with Ooredoo to form Indosat Ooredoo Hutchison in a US$6 billion deal. These consolidations aim to strengthen market position and improve operational efficiencies amid intense competition and evolving digital infrastructure needs in the region.
