INDONESIA PRESS-Trikomsel Oke to sell stake to Polaris-Investor Daily

Thu Jul 3, 2014 10:01pm EDT

PT Trikomsel Oke Tbk, an Indonesian handset distributor and retailer, will sell 10.6 percent of its stake to Polaris Ltd, the company said in a statement.

The shares, worth $65.83 million, will be sold through a share swap mechanism, Juliana Samudro, corporate secretary of Trikomsel said.

The company is targeting 11.85 trillion rupiah ($995.80 million) in revenue this year, up 15 percent from last year and plans to spend between $5 million and $10 million on expansion this year. (Investor Daily)

Note: Reuters has not verified this story and does not vouch for its accuracy.

($1 = 11,900 rupiah) (Compiled by Jakarta Newsroom; Editing by Anupama Dwivedi)