Antam eyes government's shares in Freeport

State owned mining company PT Aneka Tambang (Antam) will soon appoint a financial advisor to find the best possible financial scheme to take over the world's gold and copper giant PT Freeport Indonesia's 18.72 percent shares.

"We have been asked by State Minister of State Owned Enterprises to name a financial advisor to find the best possible financial scenario to take over part of Freeport's shares," Antam's president director Deddy Aditya Soemanegara was quoted as saying.

He said Antam would first take over the government's 9.36 percent in Freeport before going ahead with buying another 9.36 percent of Freeport's shares from PT Indonesia Copper Investama, which was formerly owned by Indonesian shareholders but now under the control of Freeport's major shareholder Freeport McMoRan Copper & Gold .

"Our main priority is to buy the government's 9.36 percent stake in Freeport," he said. He denied newspapers' reports that Antam was no longer interested in buying the gold and copper giant's shares.

Asked about the House of Representatives' request to give the priority to the Papua provincial administration to take over the shares, Deddy said that it would not affect its plan. "We are not competing with Papua. If possible, we can even join forces to take over the shares," he added. (dino)