QTel wants 51% majority stake in Indonesian telco Indosat
Jakarta (ANTARA News/Asia Pulse) - Qatar Telecom (QTel) said it wants to have more than a 50 per cent stake in Indonesia's second largest telecommunications company PT Indosat.
Qtel is already the largest shareholder of Indosat with a 40.81 per cent stake it acquired last June from Singapore Technologies Telemedia (STT) at a price of US$1.8 billion.
Restriction on foreign ownership of listed telecommunications companies such as Indosat is not valid as Indonesian law bans foreign investors from holding more than 49 per cent of shares in a cable telecommunication company, the newspaper Investor Daily quoted Qtel as saying.
Qtel is already the largest shareholder of Indosat with a 40.81 per cent stake it acquired last June from Singapore Technologies Telemedia (STT) at a price of US$1.8 billion.
Restriction on foreign ownership of listed telecommunications companies such as Indosat is not valid as Indonesian law bans foreign investors from holding more than 49 per cent of shares in a cable telecommunication company, the newspaper Investor Daily quoted Qtel as saying.