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Indonesia's First Media aims to select buyer of Link Net stake in Aug

Reuters - UK Focus

JAKARTA, July 3 (Reuters) - Indonesia's PT First Media Tbk , the media arm of Lippo Group, hopes to decide the buyer of a stake in internet services provider PT Link Net Tbk in August, its director said on Friday.

As of March, First Media owned 33.82 percent of Link Net, while a unit of CVC Capital Partners held 33.45 percent, according to Thomson Reuters data.

First Media Director Richard Kartawijaya declined to disclose what stake it was selling but said the company still hoped to retain control of Link Net.

Indonesia's PT Indosat Tbk (Other OTC: PTITF - news) and PT Media Nusantara Citra Tbk were separately looking at the possibility of buying a stake in Link Net, company executives told Reuters last month. (Reporting by Cindy Silviana; Writing by Eveline Danubrata; Editing by Alan Raybould)