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Technology Stocks : INDONESIA'S PT TELECOM(TLK) -- Ignore unavailable to you. Want to Upgrade?

To: Petrus who wrote (839)	9/22/1998 8:16:00 AM
From: tonto	Read Replies (1) \| Respond to of 947

Indonesia won't cancel Telkom,Indosat monopoly yet JAKARTA, Sept 22 (Reuters) - Indonesia said on Tuesday it would not revoke special rights given to PT Telekomunikasi Indonesia (Telkom) and Indonesian Satellite Corp (Indosat) until the existing facilities expire. ''The government has given privileges to Telkom and Indosat for telecommunications services until the agreed time-frame. The government will stick to the agreement,'' Director General of Post and Telecommunication Sasmito Dirdjo told Reuters. He said last week that the two companies could lose their monopolies in the country's telecommunication services under a draft law. ''Under the new draft of the telecommunications law, the government would not have any preferred companies...but we want to assure investors that we would not revoke (Telkom and Indosat) privileges ahead of the schedule.'' Under existing regulations state-controlled Telkom, also listed in New York (TLKM - news), holds the sole rights for basic domestic telecommunications and long distance services until 2010 and 2005 respectively. Indosat, also listed in New York (NYSE:IIT - news) together with Satelindo, hold a duopoly in the country's international telecommunication services until 2004. ''No other companies are allowed to compete until then,'' said Sasmito. -- Tomi Soetjipto, Jakarta newsroom (6221) 384-6364; Fax (6221) 344-8404 -- Email: jakarta.newsroom@reuters.com