Indonesian government primes Indosat privatization

Danareksa has already been selected as one global co-ordinator for the next stage of Indosat's privatization and having received written submissions from international banks, is currently in the process of oral presentations to select either one or two joint global co-ordinators to join it.

Telecoms experts say that the Indonesian government is prepared to cede control of Indosat the country's sixth largest company by market cap in a bid to raise funds of up to $300 million. Based on Indosat's current market capitalization of $1.06 billion, it would need to sell at least 30% to achieve this level and would see its stake almost halve from a current 65% level.

As the sale is likely...

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