Indosat targets twelve million new subs. in 2009

19 Jan 2009

Indonesia’s second largest telecoms company by revenues and subscribers, PT Indosat, is looking to sign up at least twelve million new subscribers this year, Antara News reports citing comments by the group’s marketing director Guntur Siboro. Guntur is confident that the company, which is 40.81% owned by Qatar Telecom (Qtel), will grow by at least the same rate as in 2008, despite the country facing an economic contraction in the global downturn. Last year Indosat grew by between 11%-14% and by 30 September had a customer base of 35.5 million, of which eleven million were new users.

In a related story, Qtel says it will begin a tender offer for shares of Indosat tomorrow, as it looks to increase its ownership of the company to the maximum limit of 65% allowed under local law. The Qatari firm will launch two offers in the US and Indonesia respectively, on 24.19% of Indosat’s shares valued at IDR9.71 trillion (USD883 million). The offer is due to expire on 18 February, the Bisnis Indonesia daily said.

Indonesia, Indosat Ooredoo (incl. IM2)