Indonesian Telcos Q3 23 review: IndiHome/Telkomsel merger sparking inflection
Following several weaker quarters, Q3 marked something of a turnaround for Telekom Indonesia with stronger net adds on both mobile and broadband side. It would appear that the closing of the IndiHome/Telkomsel merger in July has catalysed better performance. With market repair continuing and Enterprise also better, we think the stock should start to perform better and remain Buyers.PT Indosat is an Indonesian telecommunications network and service provider. Co.'s principal products and services include Cellular services in which Co. provides Global System for Mobile Communications 900 and 1800 cellular services; Fixed telecommunications services in which Co. provides international long-distance services in Indonesia; and MIDI services in which Co. provides broadband and narrowband fixed data services, including frame relay services, Very Small Aperture Terminal services, leased circuits and Internet services, through Lintasarta, PT Indosat Mega Media to corporate and retail customers and wholesalers.
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