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Posted On: 28 October 2008 07:37 am
Updated On: 12 November 2020 02:08 pm

Qtel control in Indosat limited to 65 percent

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
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Qatar Telecom (Qtel) is pleased that Indonesian authorities have clarified that Qtel's ownership of shares in PT Indosat will be permitted up to 65 percent. "The two significant issues concerning our investment, the Supreme Court case and foreign ownership limitations on our shareholding in Indosat, have now been addressed, and we are delighted to have the opportunity to hold a majority of Indosat's shares," said H E Sheikh Abdullah bin Mohammed bin Saud Al Thani, Qtel Group Chairman and Indosat President Commissioner. With this formal clarification notice, Qtel, which owns 40.8 percent of the Indonesian firm, will shortly be in a position to proceed with coordinated tender offers in Indonesia and the United States. the peninsula