Govt to select bidders for Indosat<\/p>\n
JAKARTA: The Indonesian government will decide later Wednesday
\nwhich investors will qualify to bid for a 41.94 percent stake in
\ninternational call service provider PT Indonesian Satellite Corp.
\n(Indosat).<\/p>\n
A government official told Dow Jones Newswires that 16 local
\nand foreign investors have submitted letters to the government
\nindicating their interest in buying the stake.<\/p>\n
They are the Government of Singapore Investment Corp., AIG
\nInvestment of the U.S., GE Capital, Newbridge Capital, Batavia
\nInvestment Fund, PT Sarijaya Securities, Hi-Tech Securities,
\nAustralia's Telstra Corp., Singapore Technologies Telemedia Pte.
\nLtd., Telekom Malaysia Bhd., the Singapore unit of Norway's
\nTelenor ASA., Malaysia's Maxis Communications Bhd., Orange SA of
\nFrance, Thailand's Advanced Info Service PCL, China Mobile (Hong
\nKong) Ltd., and Milbank, Tweed, Hadley & McCloy, said the
\nofficial who declined to be named.<\/p>\n
He said the investors that will be allowed to bid must have
\nmore than $450 million in total assets and aren't
\ntelecommunication operators based in Indonesia.<\/p>\n
"Only qualified investors will be invited to submit their bids
\nfor the stake," the official said.<\/p>\n
The government currently has a 56.9 percent stake in Indosat.
\nThe sale is part of the efforts to raise funds to help finance a
\ndeficit in the state budget, which is expected to be around 2.5
\npercent of gross domestic product this year. --Dow Jones<\/p>\n
Taiwan to sell 30% stake in China Airlines<\/p>\n
TAIPEI: Taiwan plans to sell up to 30 percent of China
\nAirlines (CAL) by the end of the year to speed up privatization
\nof the island's leading carrier, it was reported Wednesday.<\/p>\n
The China Aviation Development Foundation (CADF), which has a
\ncontrolling 72 percent stake in CAL, hopes to accelerate auctions
\nof CAL shares, the Economic Daily News cited the foundation
\nchairman Lin Ling-san as saying.<\/p>\n
CADF hopes to sell the stake to other domestic or
\ninternational airlines, or companies with strong management
\nteams, the paper said.<\/p>\n
Two foreign holding companies, Salomon Smith Barney and China
\nDevelopment Financial Holding Corp., have voiced interest in the
\ncarrier, it added.<\/p>\n
CAL plans to buy more than a dozen airplanes to upgrade its
\nfleet but it has not yet placed an order.<\/p>\n
It is speeding up its fleet replacement plans after one of its
\nBoeing 747-200 passenger jets disintegrated in mid-air over the
\nTaiwan Strait on May 25, killing all 225 people aboard.
\n --AFP<\/p>\n
Nissan to take 50% in new Chinese car firm<\/p>\n
TOKYO: Japan's Nissan Motor Co. Ltd. will pay US$1 billion for
\na 50 percent stake in a new Chinese car firm to be created from
\nthe core assets of Dong Feng Automobile Co. Ltd., an informed
\nsource said Wednesday.<\/p>\n
Japan's number three automaker will join rival Toyota Motor
\nCorp. -- which announced a joint venture with Chinese counterpart
\nFirst Automotive Works last month -- in China's booming auto
\nmarket.<\/p>\n
A Nissan spokesperson confirmed an announcement on the tie-up,
\nwhich has been under discussion for several months, would take
\nplace on Thursday.<\/p>\n
"The president of Nissan, Carlos Ghosn, and the chairman of
\nDong Feng will make an announcement in Beijing," spokesman Gerry
\nSpahn told AFP.<\/p>\n
Nissan's 8.55 billion yuan ($1 billion) investment is a little
\nmore than three times the profit expected by Dong Feng in 2002.<\/p>\n
Dong Feng is one of China's top three automakers, producing
\n150,000 lorries, buses and light utility vehicles last year, as
\nwell as some 60,000 cars. --AFP<\/p>",
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