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Jakarta (ANTARA News) - State-owned telecommunication company PT Telekomunikasi Indonesia (Telkom) Tbk is ready to buy back Singapore Communications Ltd (Singtel)`s 36-percent stake in Telkomsel, a top Telkom official said.

"If Telkomsel shares are for sale, we are prepared to buy. We have the preferential right to buy, haven`t we, and we have the funds," Telkom Chief Commissioner Tanri Abeng said here Monday.

He said Telom was now still controlling 65 percent of Telkomsel shares with 35 percent held by Singtel which was a subsidiary of Temasek which had no controlling rights over Telkomsel.

Unfortunately, Abeng said, it seemed Singtel`s shares in Telkomsel were not for sale as Telkomsel`s prospects were very good.

Abeng further said Telkom also wished to buy back the public`s stake in Telkom worth Rp10 trillion while Telkom`s own shares totaled Rp225 trillion.

So far, Telkom had already bought back Rp5 trillion of the public`s stake, Abeng said, adding Telkom wanted to recover all the shares held by the public as they were expected to have increasingly good prospects in the future.

Source