Telkom's multimedia venture

BANDUNG (JP): PT Telekomunikasi Indonesia (Telkom), the national telecommunications company, and three subsidiaries of publicly-listed Bimantara Citra have signed an agreement to form a multimedia company.

Telkom announced yesterday the new company, PT Telemedia Indonesia, would provide news, videos, sound, home shopping and games on demand.

Cellular telecommunications provider PT Telekomindo Prima Bhakti, private TV station PT Rajawali Citra Televisi Indonesia (RCTI) and PT Asriland are the other partners in the venture.

Bambang Suselo, Telkom's corporate secretary, said Telkom would have a 35 percent stake in the company, which would have paid-up capital of Rp 2.5 billion (US$1.05 million).

Telekomindo would own 25 percent, RCTI would own 20 percent and Asriland would own 20 percent, according to the agreement. (17/hen)