20 Oct 2006
Singaporean incumbent SingTel has sold its 40% stake in Indonesian wireline provider PT Bukaka SingTel International for SGD92 million (USD58.4 million). The buyer is PT Bukaka Telekomindo International, whose cellular business Telkomsel is Indonesia’s leading mobile provider, with over 29 million subscribers at the end of June 2006. Telekomindo’s stake in PT Bukaka SingTel will be brought to 91% on completion of the deal. SingTel is reported to have recorded a loss on disposal of the stake of SGD11 million (USD7 million).