Govt to announce winning bidder

Govt to announce winning bidder

JAKARTA: The Indonesian government Wednesday said it plans to announce the winning bidder for its 41.94 percent stake in PT Indonesian Satellite on Monday.

"The sale of the Indosat stake remains on schedule," State Enterprise Deputy Minister Mahmuddin Yasin told reporters.

He said the government will receive the final bids for the Indosat stake Friday.

There are four bidders in the final round of the Indosat stake sale.

Yasin said none of the four has withdrawn from bidding for the government's stake in Indosat. He didn't elaborate further.

The four are Singapore Technologies Telemedia Pte. Ltd., Telekom Malaysia Bhd., Malaysian company Desa Mahir Sdn. Bhd. and a company of unknown origin, Gilbert Global Equity Capital Asia Ltd.

All four were selected from a list of 14 investors who had made preliminary offers for the stake.

The government has a 56.9 percent stake in Indosat. -- Dow Jones