Indosat, MNC Interested in Link Net Stake
Jakarta. Indonesia’s Indosat and Media Nusantara Citra (MNC) are separately looking at the possibility of buying a stake in Internet services provider Link Net, company executives told Reuters on Wednesday.
First Media, the media arm of Indonesian conglomerate Lippo Group, and a unit of CVC Capital Partners owned a combined 67.3 percent in Link Net as of March, according to Thomson Reuters data.
First Media was seeking to sell more shares in Link Net, which operates fiber optic networks, director Richard Kartawijaya told reporters in May.
“We are looking at it (Link Net stake),” Indosat CEO Alexander Rusli said in a text message. “But we are still studying whether it is a good investment opportunity for us.”
MNC, which has businesses including pay TV, print and radio, is looking at potential acquisitions, Christy Kusuma Atmaja, an investor relations manager at MNC, told Reuters by telephone.
“For broadband, we are looking at Link Net because it is the one that is on sale,” she said.
XL Axiata was also interested in a stake in Link Net, local media had previously reported. The company’s spokeswoman Turina Farouk declined to comment.
Reuters
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