JAKARTA, June 24 A unit of Indonesia's largest
telecommunication company, PT Telekomunikasi Indonesia Tbk
(Telkom), plans to acquire an up to 30 percent stake
in PT Tiphone Mobile Indonesia Tbk to strengthen
pre-paid phone credit sales.
Tiphone will sell 10 percent in new shares at 812 rupiah per
share next month to Telkom's PT PINS Indonesia, Samuel
Kurniawan, Tiphone corporate secretary, told reporters on
The sale will raise about 500 billion rupiah ($50.89
million), he said. Tiphone is a handset retailer and vouchers
Kurniawan also said PINS Indonesia is planning to later
increase its ownership at Tiphone to 30 percent for a total of
up to 800 billion rupiah.
PINS Indonesia's business covers solutions for
telecommunication devices and network security.
Kurniawan said the proceeds from the sale will be used to
help finance capital expenditures and the acquisition of a
($1 = 11,790 rupiah)
(Reporting By Fathiyah Dahrul, Writing By Fransiska Nangoy,
Editing by Jonathan Thatcher and Matt Driskill)