iForte completed the acquisition of a 90% stake in IBST for IDR3.42tn.

iForte, a telecommunications service provider, completed the acquisition of a 90% stake in PT Inti Bangun Sejahtera, a provider of telecommunication infrastructure and site services, for IDR3.42tn. "This transaction is a strategic step for the Protelindo Group to continue to improve both the group's operational efficiency and its value to clients. Given the complementarity of IBST’s tower, FTTT, FTTH, and connectivity businesses, we expect to extract significant synergies, akin to our previous success in integrating iForte, KIN and STP. We are also excited to strengthen our partnership with Smartfren through a new 10-year lease arrangement for the existing tower and FTTT business in IBST and with their binding commitment for additional tower collocation and FTTT business going forward,” Ferdinandus Aming Santoso, Protelindo Group CEO.