Qatar Telecom and Temasek Under Scruitiny

June 2008 | M&A News Alert

On June 7, Qatar's monopoly telecoms provider, Qatar Telecom (Qtel), offered to buy a 40.8% stake in PT Indosat, Indonesia's second-largest phone company. Temasek is divesting its stake in Indosat following a ruling by Indonesia's competition watchdog which stated that Temasek had broken the country's anti-monopoly laws by owning stakes (direct or indirect) in two of the country's telecoms. The watchdog ordered it to divest shares in either Indosat or PT Telekomunikasi Selular (Telkomsel), which spurred the sale to Qtel. The stake is currently held by Asia Mobile Holdings, which is Qtel's joint venture with Singapore Technologies Telemedia, a division

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