Mediacom sells 32% in troubled telco Mobile-8 (Indonesia)

January 21, 2009 at 13:05 Leave a comment

Indonesian firm PT Global Mediacom (Mediacom) has sold more than 6.475 million shares, or 32% ownership, of its troubled telecoms venture PT Mobile-8 Telecom (Mobile-8). The sale to Jerash Investment, a Dubai-based private equity fund, took place between September and October 2008 at a share price of IDR143 (USD0.01) per share, valuing the transaction at approximately IDR926 billion (USD83.4 million). Following the sale, Mediacom now owns 19% of Mobile-8 Telecom.

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Entry filed under: Asia, Indonesia, Mediacom, Mobile, Mobile 8, Mobile Network Operator, Telecom, Wireless. Tags: , , , , , .

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