QTel allowed to buy up to 65 per cent stake in Indosat (Indonesia)

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QTel allowed to buy up to 65 per cent stake in Indosat (Indonesia)

October 15, 2008

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The Indonesian government has announced a significant policy decision allowing Qatar Telecom (QTel) to buy up to 65 per cent of Indosat, Indonesia's second largest mobile phone company. In June 2008, QTel bought Singapore Technologies Telemedia's stake in Indosat to increase its holding in the firm to 40.8 per cent. As per earlier laws, foreign entities were allowed to own only 49 per cent of fixed line telecom companies, but 65 per cent of mobile operators. According to the Indonesian authorities, Indosat was initially considered to fall under the fixed line category. However, the government has given an exemption in QTel's case.