The nation's largest telecoms operator PT Telekomunikasi Indonesia (Telkom) canceled Sunday its plan to acquire tower provider Indonesian Tower.
"Both firms failed to reach an agreement on some issues," Telkom Vice President for Investor Relations Agus Murdiyanto said told kompas.com.
Agus did not further elaborate.
On Aug. 18, 2008, Telkom's subsidiary, Dayamitra Telekomunikasi (Mitratel), made a conditional agreement with the Indonesian Tower to acquire 80 percent of the latter's shares.
The Indonesian Tower acquisition plan is part of Telkom's expansion program to dominate the country's telecommunication tower, which is vital to its business. In 2008, the Indonesian Tower was the largest tower provider with 1,816 units.
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