Telecom Giant Mitratel Weighs Mega-Merger With Tower Bersama as Sovereign Fund Danantara Steps In

JAKARTA, Investortrust.id — A blockbuster consolidation is brewing across Southeast Asia's telecommunications infrastructure sector as Danantara Indonesia, the state investment entity overseeing state-owned assets, evaluates a potential mega-merger between state-controlled PT Dayamitra Telekomunikasi Tbk (Mitratel) and privately held PT Tower Bersama Infrastructure Tbk (TBIG).

The move could unite the nation’s largest digital infrastructure portfolio with one of its most efficient independent operators, reshaping regional telecommunications infrastructure.

Tower Consolidation Follows Telco Operator Mergers

A merger between Mitratel and Tower Bersama would create an unrivaled telecom tower colossus capable of capturing 5G rollout demand and optimizing tenancy ratios nationwide. After massive consolidation reshuffled Indonesian mobile carriers into a tighter group of well-capitalized telcos, tower operators now face immense pressure to consolidate assets, eliminate redundant infrastructure, and safeguard capital expenditure returns.

Danantara leadership confirmed that the state-backed asset manager is open to combinations between state-owned enterprises and private operators provided the strategic rationale holds up.

"I will review this corporate action to ensure it is driven by corporate strategy, not shareholder overreach," Danantara Chief Operating Officer Dony Oskaria said at the parliamentary complex in Jakarta on Monday (Aug. 31, 2026). "There is no issue as long as it forms part of the corporate roadmap, though I still need to examine the specific details."

Reviewing Alignment With Telkom Indonesia

Mr. Oskaria emphasized that Danantara will consult directly with Mitratel’s parent company, state-owned telecommunications provider PT Telkom Indonesia (Persero) Tbk (TLKM), to assess deal structures and corporate governance.

"I will check with the parent entity Telkom to understand how the process is structured, as they have established governance hierarchies," Mr. Oskaria explained during the briefing.

Mitratel management previously signaled that it is exploring consolidation pathways with up to four telecom infrastructure peers. The push follows an aggressive multi-year acquisition streak, with executives targeting deeper industry-wide efficiency gains as downstream carrier consolidation nears completion.