Qatar Telecom buys additional stake in Indosat (Indonesia)

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Qatar Telecom buys additional stake in Indosat (Indonesia)

March 15, 2009

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Qatar Telecommunications has paid $810 million to secure a majority (65 per cent) stake in Indonesia's second largest telecom operator PT Indosat. The group had a 40.8 per cent stake in the company as of June 2008 and has now acquired a further $500 million worth of Indosat shares in an open market transaction on the Indonesia Stock Exchange, and $310 million of Indosat's American depository receipts listed on the New York Stock Exchange.