PT Telkom to set aside $300 million for share buyback (Indonesia)
October 15, 2005
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Indonesian telecom giant PT Telkom plans to set aside up to Rp3 trillion ($300 million) a year to buy back its shares held by the investing public. The buy-back was to increase the government's stake in the country's largest telecommunications company by 2 per cent per annum from the current 51.19 per cent. However, the buy-back plan will need the approval of the shareholders in a meeting planned in November.
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