08 June 2008
Qatari telecom operator Qtel has increased its stake in PT Indosat, Indonesia's second-largest mobile phone operator, to 40.8 per cent in a deal worth $1.8 billion. Qtel acquired the stake from Asia Mobile Holding, a subsidiary it jointly holds with Singapore Technologies Telemedia, according to a statement released yesterday.
"We believe that Indonesia is a high-growth market for telecommunications and that Indosat is very well placed to compete in that market," said chief executive Nasser Marafih. Chairman Abdullah bin Saud Al-Thani told Al Jazeera television that Qtel, which had previously controlled 25 per cent of Indosat, had now become the largest stakeholder.
Qtel is looking to buy Asian and Arab operators and licences, as well as expand its fixed-wireless business.
Qatari telecom operator Qtel has increased its stake in PT Indosat, Indonesia's second-largest mobile phone operator, to 40.8 per cent in a deal worth $1.8 billion. Qtel acquired the stake from Asia Mobile Holding, a subsidiary it jointly holds with Singapore Technologies Telemedia, according to a statement released yesterday.
"We believe that Indonesia is a high-growth market for telecommunications and that Indosat is very well placed to compete in that market," said chief executive Nasser Marafih. Chairman Abdullah bin Saud Al-Thani told Al Jazeera television that Qtel, which had previously controlled 25 per cent of Indosat, had now become the largest stakeholder.
Qtel is looking to buy Asian and Arab operators and licences, as well as expand its fixed-wireless business.
© 7Days 2008
