Christmas comes early for Indonesia

The sale of the government''s 42% stake Indosat raises a windfall of $631 million.
December 16, 2002

They were dancing in the corridors of power in Jakarta at the weekend after the hugely successful privatization of the government's 42% stake in PT Indosat. Singapore Technologies Telemedia (STT) agreed to pay Rp12,950 a share, a 51% premium to Friday's closing price of Indosat stock.

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