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TLK 17.60+2.1%Jun 21 4:00 PM EDT

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To: Pierre Aydin who wrote ()12/20/1999 9:59:00 AM
From: tom  Read Replies (1) of 947
WDR think Soros may be interested in government's stake in TLK...

A source at Telkom was quoted in a local paper saying that George Soros was interested in buying the government's stake in Telkom via his Quantum Fund. The source also said Soros was looking to buy out Telkom's stake in the five KSO ventures. Soros recently bought an Indonesian investment bank, commercial bank and cigarette manufacturer and has been named among the top bidders for a stake(s) in various telecommunications companies.

The Minister of Communications has denied that the government was planning to sell its 66.38% stake in Telkom to Soros, but did not rule out the possibility of Soros buying Telkom's other 33.62% shares from the market. Telkom management has reportedly welcomed the possibility of Soros group investment in Indonesian telecommunications adding that it would be positive for Telkom.
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