In Short: SingTel in talks to sell Indonesian fixed-line joint venture

Singapore Telecommunications, Asia's fifth largest phone firm, is in talks to sell its 40 percent stake in a fixed-line phone network in eastern Indonesia to PT Telkom, the Straits Times daily said on October 05.
SingTel bought the stake in the Bukaka SingTel venture in 1995, with local partner Bukaka Telekomindo owning the rest, the paper said. SingTel has invested S$47 million ($27.78 million) in the venture, and the stake sale will bring it a profit, the paper said.
A SingTel spokesman declined to comment on the report.
The paper quoted Garuda Sugardo, an official of Telkom, as saying the joint venture firm had approached Telkom to sell "the assets".