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)