Telkom boosts ownership in Metra

Telkom boosts ownership in Metra

JAKARTA: State-owned telecommunications company PT Telkom said on Tuesday it had become the full owner of cable TV operator PT Multimedia Nusantara (Metra) after acquiring a 69 percent stake from PT Indocitra Grahabawana.

In its report to the Surabaya Stock Exchange, Telkom said the full acquisition of Metra was part of the company's move to help develop a multimedia business.

At the same time, Telkom also sold its 21.3 percent share in property company PT Menara Jakarta to Indocitra as part of a cross ownership agreement. -- JP