Qatar Telecommunications will buy Singapore Technologies Telemedia's entire stake in Indonesia's PT Indosat for $1.8 billion, gaining 40.8 percent control of that country's second-biggest mobile phone firm.
The stake sale by ST Telemedia -- which is a unit of Singapore's sovereign wealth fund Temasek Holdings -- came almost a month after it lost an appeal in an Indonesia court against an earlier anti-trust ruling.
An Indonesian district court on May 9 ordered Temasek and its affiliates to sell its holdings in either PT Telekomunikasi Selular (Telkomsel) or PT Indosat Tbk , upholding an earlier ruling by the country's anti-trust body.
Sunday, June 8, 2008
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