0624 GMT - Telkom Indonesia (Persero) may benefit from the completion of phase two of its spinoff of the wholesale fibre connectivity business into Telkom InfraCo, UOB Kay Hian analysts say in a research report. The completion will further consolidate this business into Telkom InfraCo, strengthening its scale ahead of a potential strategic stake sale, the analysts say. Also, management is evaluating whether to consolidate additional fiber assets before proceeding with the strategic investor process, which could further increase Telkom InfraCo's scale. The brokerage maintains the stock's buy rating, but lowers the target price to 3,300.00 rupiah from IDR3,600.00 to partly reflect a potentially longer timeline for value-unlocking of Telkom InfraCo. Shares are 0.4% lower at IDR2,240.00.