Pramindo gets new shareholders

Pramindo gets new shareholders

JAKARTA (JP): Telephone consortium PT Pramindo Ikat Nusantara
announced yesterday that it will add Japan's Marubeni and
Nichimen Corps. to its list of shareholders.

Pramindo said in a statement that Marubeni will now have an 8-
percent stake in the consortium and Nichimen a 1-percent
interest.

Pramindo is currently 59 percent owned by PT Astratel
Nusantara -- a subsidiary of PT Astra International -- 35 percent
by France Telecom and a combined 6 percent by local company PT
Intertel Pratamamedia and the Employees Cooperative of the
Ministry of Tourism, Post and Telecommunications.

Under the new set up, Astratel will hold 50.5 percent; France
Telecom 35 percent; Marubeni 8 percent; Intertel 3.5 percent; the
Employees Cooperative 2 percent and Nichimen 1 percent.

Pramindo was one of five consortiums selected by the
government to develop Indonesia's telephone networks under 15-
year joint operating contracts.

It won the contract to manage the existing line network on the
island of Sumatra and install 516,487 new lines there.

The statement said another shareholder, the International
Finance Corporation, is expected to join the consortium by the
end of this year. (pwn)