Indonesia reportedly plans to increase its stake in PT Indosat, the country’s second largest phone company, to 40.77 per cent by offering to buy shares from public stockholders. The government has reportedly raised 12 trillion rupiah ($1.25 billion) for the deal through state-owned companies, including national PTO Telkom, for buying Indosat shares from the public or from Singapore Technologies Telemedia. The government currently owns roughly 14 per cent in Indosat.
