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Jakarta (ANTARA News) - PT Telkom Tbk (Telkom) said it will not continue the acquisition of PT Solusindo Creative Pratama (Indonesian Tower) for not reaching an agreement, according to a press statement Telkom in Jakarta, Sunday.

Telkom to ensure the cancellation of the acquisition of Indonesian Tower will not disturb the corporate business.

On August 18, 2008, Telkom through Dayamitra subsidiary PT Telekomunikasi (Mitratel) has done conditional agreement (conditional agreement) with the Indonesian Tower to acquire 80 percent stake in Indonesia Tower.

Vice President Investor Relations & Secretary Corporat Agus Murdiyanto said, the transaction is dependent on the completion of certain conditions and adjustments have been agreed upon.

"By not fulfill these requirements conditions, the majority stake acquisition in Indonesia Tower will not continue," he said.

He ensures this cancellation does not affect the fixed Mitratel focus on developing the telecommunication tower business is owned company.

Telkom has acquired Indonesian Tower to strengthen the position of Telkom Group for the tower is a strategic infrastructure for the company.

Indonesian Tower at the end of 2008 had 1816 units of the tower, or the company's largest tower provider in the country.

In that acquisition Mitratel appoint HSBC as financial advisor and Melli Darsa & Co. as legal advisors. (*) (ANTARA News)