Jakarta, INTI - PT Telkom Indonesia Tbk (TLKM) has signed a deed of business separation, or spin-off, for its Phase 1 wholesale fiber connectivity assets to PT Telkom Infrastruktur Indonesia, also known as Infranexia, on Thursday, December 18, 2025.
Telkom Indonesia’s Director of Strategic Business Development & Portfolio, Seno Soemadji, explained that the plan to separate the company’s fiber optic assets had in fact been initiated since late 2024.
“And starting today marks that as of January 1, the separation of these infrastructure assets will become legally effective,” he said during a press conference on Thursday, December 18, 2025.
Asset Valuation and Business Focus of Infranexia
In the first phase, Telkom is separating approximately 50% of its fiber assets to Infranexia, with the portfolio asset value reaching around Rp 35.3 trillion out of a total of more than Rp 90 trillion to be managed.
Using the Infrastructure Price Index (IPI) approach and taking into account liabilities of around US$700 million, the valuation of the infrastructure entity is estimated to be in the range of Rp 120 trillion to Rp 150 trillion once it is fully operational.
Seno stated that Infranexia will focus its business on two main segments, namely wholesale services and internet service provision. He also assured that Infranexia’s expansion will not overlap with PT Dayamitra Telekomunikasi Tbk (MTEL).
“The separation of these assets is the realization of TLKM’s strategy to improve capital expenditure (capex) efficiency and maximize the monetization of assets owned by the Telkom Group,” he explained.
Phase Two Timeline and Value Creation Strategy
Telkom Indonesia President Director Dian Siswarini added that the second phase of the fiber asset separation is targeted to be realized next year. In addition, corporate actions related to unlocking the value of Infranexia are also expected to be carried out in 2026.
“And also regarding the earlier question on how the subsequent corporate actions to extract value from this fiber co will proceed, it is also expected to be implemented in 2026,” she said.
Conclusion
The spin-off of Telkom’s fiber optic assets marks a strategic step to strengthen infrastructure management and enhance long-term value creation. By consolidating fiber assets under Infranexia, Telkom aims to improve capital efficiency while positioning the new entity as a key player in Indonesia’s wholesale and broadband ecosystem.
Read more: Kemkomdigi Expands Internet Access to Support Digital Education in Remote Regions