Govt not interested in purchasing Freeport shares

By Bambang Atmaja

Finance Minister Agus Martowardojo said that the government is not interested in buying shares offered by PT Freeport Indonesia.

The firm has recently offered 9.36 percent of its shares to the local government after several phases of negotiation with the government.

"I don't see the offered shares as something that must be bought by the government," he told Petromindo.com at the Industry Ministry, adding that the company should encourage public to buy the shares through an initial public offering.

Under the government new rule, the foreign firm should cut its ownership on the firm in the country to no more than 49 percent.

The negotiation between the government and the firm are still underway, including on tax and royalty payments, and operational areas, according to Coordinating Minister for Economy Hatta Rajasa.

Editing by Adianto P. Simamora