SingTel now controls 65 percent of shares while Telkomsel owns 35 percent.
"If [stock issue] is considered important, it will be discussed during the May general meeting of shareholders," said Minister of SOEs, Mustafa Abubakar, on Monday.
Mustafa however said the buyback plan issue is only brought forth by the Indonesian government. SingTel, the ultimate shareholder of Telkomsel, has yet to respond over the plan.
A meeting between Mustafa and SingTel CEO, Chua Sock Koong, was held on Thursday, April 7. However, the buyback issue was not reviewed during the talks.
Earlier, SingTel and Ministry of SOEs agreed to reinforce the organizational structure of Telkomsel by building up three more directorates.
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