Retail in Asia

In Trends

Indonesia’s Trikomsel to buy 80pc stake in rival mobile phone retailer

Cellular-phone distributor Trikomsel Oke will buy an 80 percent stake valued at IDR900 billion (USD99 million) in rival Global Teleshop, making it the biggest telecommunications retailer in Indonesia.

The company aims to raise at least IRD1 trillion through share sales from 4-10 May to help with the purchase of the stake.

Trikomsel on 7 March signed the sales purchase agreement with Trilinium, which owns 80 percent of Global Teleshop, the company said in a prospectus published in Investor Daily on Monday. Global Perkasa Mandiri owns the remaining 20 percent stake in Global Teleshop. 

(Source: Jakarta Globe )