Ownership changes at MTEL and Telkom
While Singapore reduced its stake in MTEL, US investor The Bank of New York Mellon increased its investment in MTEL's parent, state telecommunications company PT Telkom Indonesia (Persero) Tbk (TLKM). The bank added 188.35 million TLKM shares, taking its holding to 6.46%.
An earlier snapshot of MTEL's ownership, dated March 31, 2026, put the Singapore Government's stake at 5.33%. Telkom held a controlling 71.83%, while PT Maleo Investasi owned 5.98%. Public investors with individual holdings below 5% accounted for 13.81%, and treasury shares represented 3.04%, according to MTEL's April 17 disclosure to shareholders.
Other major shareholders add to holdings
Among the other changes reported by the exchange, PT Nusantara Utama Investama bought 3.47 billion shares in property developer PT Bukit Uluwatu Villa Tbk (BUVA). The purchase lifted the controlling shareholder's stake from 59.70% to 64.40%. PT CGS International Sekuritas Indonesia increased its holding in PT Energi Mega Persada Tbk (ENRG) from 7.79% to 10% by adding more than 1.04 billion shares.
PT Elang Mahkota Teknologi Tbk (EMTK), known as Emtek, raised its stake in television broadcasting subsidiary PT Surya Citra Media Tbk (SCMA) to 86.71% with a purchase of 50 million shares.
Electronics retailer PT Erajaya Swasembada Tbk (ERAA) continued its buyback, purchasing 90 million shares and bringing its treasury holdings to 6%.
PT Softbank Ventura Indonesia increased its stake in research technology services company PT Nanotech Indonesia Global Tbk (NANO) to 7.47% after buying 3.96 million shares. Meanwhile, PT Yulie Sekuritas Indonesia Tbk bought 2.79 million shares in medical equipment provider PT Esa Medika Mandiri Tbk (EMMI), bringing its holding to 11%.
MTEL's operations and 2026 merger
MTEL, also known as Mitratel, described itself in its first-quarter 2026 corporate presentation as Southeast Asia's largest independent telecommunications tower company. At that time, it operated 40,327 towers across Indonesia, with 59% of its sites outside Java.
The company's April 17 shareholder disclosure showed audited consolidated revenue increasing from Rp6.87 trillion in fiscal 2021 to Rp9.53 trillion in fiscal 2025, a compound annual growth rate of 8.54%. Profit for the year rose from Rp1.38 trillion to Rp2.12 trillion over that period, equivalent to an 11.30% compound annual growth rate.
In 2026, MTEL merged with PT Persada Sokka Tama and PT Ultra Mandiri Telekomunikasi. It offered a buyback for shareholders who voted against the merger and repurchased 69,777,200 shares between July 3 and July 10, according to CNBC Indonesia. The shares were bought at Rp515 each for a gross value of Rp35.94 billion, with settlement on July 17, 2026.
