Qtel would pay USD2bn for remaining Indosat shares

17 Jul 2008

Qatar Telecom (Qtel) would pay up to USD2 billion to acquire the remaining 44.9% of PT Indosat, if given the go ahead from Indonesia’s market regulator, writes Dow Jones citing people familiar with the situation. ‘The Indonesian government has a 14.3% golden share which can’t be touched but in our tender offer we asked for the remaining shares,’ the contact reportedly told Dow Jones. If successful, Qtel would own 85.7% of the country’s number two telecoms company. In June this year Qtel paid USD1.8 billion for 40.8% of the company.

Indonesia, Indosat Ooredoo (incl. IM2), Ooredoo Qatar