Nov 4, 2010

Telkom, SK Telecom set joint venture

Indonesia's largest telephone operator PT Telekomunikasi Indonesia Tbk (Telkom) has put Rp51 billion into a newly joint venture company dubbed PT MelOn Indonesia in cooperation with South Korea telephone operator SK Telecom. MelOn Indonesia is set up to tap the digital music market.
Eddy Kurnia, Vice President Public and Marketing Communication of Telkom, said the joint venture company is hopefully to pave way for Telkom to be multimedia services provider.
By injecting Rp51 billion into MelOn Indonesia, Telkom controls 51% stake and the remaining goes to SK Telecom.
Disclosure: No position at the stock mentioned above.

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