QTel allowed to own 65% Indosat shares

The government allowed Qatar Telecom (QTel) to have tender offer for share possession up to 65 percent.
The government set 65 percent Qtel share ownership of Indosat is due to the 98 percent of Indosat business is cellular sector.
It implies QTel could have the tender offer of public indosat shares up to 24.2 percent , following the acquisition of 40.8 percent of Indosat shares worth US$1.8 billion or IDR7,388 per share on June 30, 2008.
Indosat is the go public company listed in the Indonesia Stock Exchange (IDX) so that Qtel must not restricted by the Negative List of Investment in the Presidential Regulation No. 111/2007.
But Minister for Communication and Information questioned the restriction here to the Capital Invesment Coordination Agency is the Presidential Regulation No. 111/2007 on the Private and Go Public Companies with Capital Investment Requirements set on December 27, 2007.
The Part C on the capital possession No. 44 in the Presidential Regulation requires the restriction of foreign possession in telecommunication networks by 49 percent at maximum and cellular networks by 65 percent.