Temasek accused of breaching anti-monopoly laws

10 Oct 2007

Indonesia’s Anti-Monopoly Commission (KPPU) has accused Singapore’s Temasek Holdings of breaching local anti-monopoly laws via its ownership of a 42% stake in domestic fixed and mobile operator Indosat and a 35% stake in cellular services provider Telkomsel. Following a three-month investigation KPPU has now given Temasek two weeks to mount a defence. In its 109-page document, the commission says there is evidence to prove that the process of cross-ownership took place after the divestment of Indosat to Temasek, which created unfair competition. Temasek has denied the charges.