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Qatar Telecom only permitted to buy 8.2% of Indosat's shares

Thu. July 24, 2008; Posted: 10:12 PM
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JAKARTA, Jul 25, 2008 (Asia In Focus via COMTEX) -- OTTCY | Quote | Chart | News | PowerRating -- The Capital Market and Financial Institution Supervisory Board (Bapepam-LK) said QATAR TELECOM (QTEL) is only allowed to buy a maximum of 8.2 per cent of Indonesian state telecommunications operator INDOSAT's (JSX:ISAT) shares. Bapepam-LK Chairman Fuad Rahmany said here on Thursday that Qtel must not violate a regulation allowing a foreign company to hold not more than 49 per cent of a national company's shares.

* QTel currently already controls 40.8 per cent of Indosat shares so it can only be allowed to increase its stake in the country's second largest telecommunication operator by at most 8.2 per cent, he said.

* Asked to comment on reports that QTel was cooperating with national businessman Rahmat Gobel to increase its shares in Indosat, Rahmany said he lacked precise knowledge about the cooperation.

For full details for OTTCY click here.

    


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