Qtel stumps up USD810m for control of Indosat

3 Mar 2009

Qatar Telecom (Qtel) has paid USD810 million to secure a majority 65% stake in Indonesia’s second largest telecoms operator PT Indosat. The Qatari group had built up a 40.8% stake in the company on 22 June 2008 and has now acquired a further IDR6 billion (USD500 million) worth of Indosat shares on the Indonesia Stock Exchange and USD310 million of Indosat’s American Depositary Receipts listed on the New York Stock Exchange.

Indonesia, Indosat Ooredoo Hutchison (IOH), Ooredoo Group