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Newsroom Press Releases Latest | Global Mediacom Reduced Its Shareholding In Mobile-8 |
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Jakarta, 11 August 2008 PT Global Mediacom Tbk (Mediacom) have reduced stake in PT Mobile-8 Telecom Tbk (Mobile-8) from 66.81% ownership to 51.00% by selling 15.81% shares of Mobile-8 or equivalent to 3,199,601,000 shares to various investors. The transaction took place from 1 – 8 August 2008 with selling price of Rp143 per share. The transaction value amounted to approximately Rp457 billion. According to Hary Tanoesoedibjo, Group President & CEO of Mediacom, "We decided to reduce stake in Mobile-8, since the Company intends to focus more on media and content operations. The current economics prompt every player in the market to specialize at each own competitive edge. We came to such decision after thorough analysis that concluded media and content businesses are where we actually do our best". Mediacom believes the prospect of telecommunication industry remains potential but will be very competitive. The reason that the Company decided to reduce stake is more about the effective allocation of capital to its core business. Furthermore, Mediacom intends to expand its Pay TV operation under PT MNC Sky Vision (or Indovision) and to increase more stakes in it. For further information please contact: Investor Relations Division PT Global Mediacom Tbk Menara Kebon Sirih 28th floor Jl Kebon Sirih Kav 17-19 Jakarta 10340 Ph : 62-21 3909211 Fax : 62-21 3927859 Attention: David Fernando Audy Head of Investor Relations e-mail: This email address is being protected from spam bots, you need Javascript enabled to view it This email address is being protected from spam bots, you need Javascript enabled to view it |
