Indosat told to acquire Pakistani telecom firm
Indosat told to acquire Pakistani telecom firm
JAKARTA (JP): Minister of Tourism, Post and Telecommunications
Joop Ave has told the state-owned international
telecommunications company, PT Indosat, to talk with the visiting
Pakistani delegation about buying a telecoms firm in Pakistan.
Joop told reporters after receiving a delegation led by Asif
Ali Zardari, the husband of Pakistani Prime Minister Benazir
Bhutto, that Pakistan was offering its international
telecommunications firms for sale.
Bhutto arrived here yesterday for a three-day state visit to
promote bilateral cooperation in trade, investment and
agriculture. The Pakistani premier was accompanied by her
husband, five ministers and 80 business leaders.
"One of the 21 members of the Pakistani delegation was a
telecoms minister who said that there are four international
telecommunications gateways in his country that are available for
sale. I'm interested," Joop said.
Soon after the delegation left his office, Minister Joop
ordered one of his staff to contact Indosat's president, Tjahjono
Soerjodibroto, to suggest a meeting about the offer today.
No further details were available.
Indosat, which was floated on the New York and Jakarta stock
exchanges in October 1994, is currently exploring new overseas
businesses. Indosat has acquired a number of shares in Astel, a
cellular telephone operator in Japan. Through its subsidiary PT
Sisindosat, Indosat has also bought equity in Global Link Inc.,
an American firm offering assorted telecoms services.
Joop said yesterday that last year Indosat started work on
telephone networks in Cambodia after winning a $15 million
contract to refurbish the country's telephone system.
Indosat earned net profits of Rp 459.4 billion in 1995, 59
percent higher than in 1994. Most of it came from international
telephone traffic.
The company has allocated about Rp 560 billion to establish
international telecommunication facilities and participate in
domestic telephone networks and other businesses to support its
core business.
Joop also said yesterday that he had spent about 80 percent of
his one-hour meeting with Zardari discussing cooperation
possibilities in the tourism industry.
"I declined a request from the delegation to free Pakistanis
visiting Indonesia from visas. I said only a few Pakistanis visit
Indonesia each year," Joop said.
He said the delegation also invited Indonesian investors to
participate in the development of Pakistan's tourism industry.
(icn)