Indonesian state telecom said to weigh sale of venture arm managing $830 million

A PT Dayamitra Telekomunikasi telecommunications tower in Jakarta, Indonesia, on Sunday, Nov. 21, 2021.Dimas Ardian | Bloomberg | Getty ImagesA unit of Indonesia's largest state-owned telecom conglomerate is said to be weighing the sale of an embattled venture capital firm. TelkomMetra is considering selling MDI Ventures, according to four people familiar with the matter, who requested not to be named discussing private matters. They said the process is still at a preliminary stage and no final decision has been made. TelkomMetra has hired Jefferies to advise on the deal, two of the four people said. TelkomMetra, a subsidiary of PT Telkom Indonesia (Persero), is "assessing various alternative strategic corporate actions" for MDI Ventures, including a sale, according to a letter issued by MDI and seen by CNBC. The letter, sent to at least one company in TelkomMetra's portfolio early this month, requested stakeholders' opinions on the proposed process by July 17.In an emailed statement to CNBC, a representative for MDI Ventures said that "at this time, we are not in a position to comment on or disclose any information regarding the matters." Jefferies declined to comment, and TelkomM...