Indosat to buy stake in Suginami

JAKARTA (JP): The country's international telecommunications operator, PT Indosat, plans to take a 5 percent stake in Japan's Suginami Cable Television.

Indosat's general manager for corporate development, Wahyu Wijayadi, said yesterday that the 5 percent stake, worth 165 million yen (US$1.5 million), has yet to be approved by Suginami's current shareholders.

A decision will be made by the end of this year, he said.

Indosat's proposal was submitted last year.

The cable company's present shareholders are Tele- Communications Inc. of the United States and Jupitel of Japan.

The proposed new composition will see Jupitel control a 50 percent stake, TCI a 45 percent stake and Indosat the remaining 5 percent.

Wahyu said Indosat's proposal to acquire a stake in Suginami is not connected to the former's plan to build a cable TV network in Indonesia.

Indosat last month agreed to buy a 40 percent stake in PT Yasawirya Tama Cipta, a Jakarta-based private video recording firm. The multimedia deal is expected to be sealed by June.

Indosat is listed on the Jakarta, Surabaya and New York stock exchanges. (pwn)