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Indonesia's Link Net puts stake sale on hold

Reuters - UK Focus

JAKARTA, Jan 26 (Reuters) - Indonesian cable television and broadband operator PT Link Net Tbk has put on hold the sale of a majority stake until the economy improves, a spokeswoman said on Tuesday.

CVC Capital Partners and Indonesian conglomerate Lippo Group's media arm PT First Media Tbk were seeking to sell their combined 67.3 percent stake.

Based on the latest talks, Indonesian telecoms firm PT Indosat Tbk, which is majority-owned by Qatar's Ooredoo QSC (E:ORDS.QA - news) , is considering dropping its bid for the Link Net stake, Indosat Chief Executive Alexander Rusli told Reuters by text message on Tuesday.

Providence Equity Partners and Indosat were the remaining bidders after MNC Group and PT XL Axiata Tbk (Other OTC: PTXKY - news) dropped out, people familiar with the matter said in September.

Providence and First Media did not provide immediate comment. CVC (Taiwan OTC: 4744.TWO - news) was not available for immediate comment. (Reporting by Cindy Silviana and Eveline Danubrata; editing by Jason Neely)