PT Gudang Garam Tbk (GGRM) confirmed that it did not hold talks on a merger and acquisition (M&A) with Japan Tobacco (JT) or other foreign companies.

"That as of the date of this explanation letter, there has been no discussion of M&A between the company and JT or other companies," said GGRM Corporate Secretary Heru Budiman in the IDX's information disclosure on Thursday (8/7).

Previously, it was reported that Gudang Garam and JT were planning to conduct an M&A.