REFILE-STOCKS NEWS INDONESIA-Erajaya buys stake in mobile content firm

(Refiles to remove extraneous comma in paragraph 3) Indonesia's top phone distributor PT Erajaya Swasembada

has bought a 30 percent stake in mobile content provider Inovidea Magna Global from its owner Kingsville Union Ltd as part of its business expansion strategy.

Erajaya bought the stake for 750 million rupiah ($78,200), it said in a statement to the Indonesian stock exchange on Thursday.

Jakarta-based Inovidea develops internet games and mobile applications.

Post the deal, Kingsville will own 69 percent of Inovidea, while the latter's CEO will hold 1 percent.

Shares of the phone retailer were down 2.38 percent at 2,050 rupiah, while the broader index was up 0.29 percent.

1305 (0605 GMT) ($1 = 9,585 rupiah)

(Reporting by Andjarsari Paramaditha; Editing by Prateek Chatterjee)

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