Telkom’s Questionable Transaction
Telkom is facing the threat of losing its Rp1.3 trillion investment in Tiphone Mobile. There were indications of bribery during the 2014 share buying process.
IF the water is cloudy upstream, it is bound to be cloudy downstream. This Indonesian proverb is an appropriate way to describe the problems currently faced by Telkom Indonesia as a result of its acquisition of Tiphone Mobile Indonesia back in 2014. This rather arbitrary corporate action might result in Telkom losing its Rp1.39 trillion investment because the company it bought is now threatened with bankruptcy.