Qtel confirms it’s ownership of 40.8% stake in Indosat (Qatar, Indonesia)
Qtel confirms it’s ownership of 40.8% stake in Indosat. This news came after the Indonesian Supreme Court ruled in favour of the telco.
Qtel Chairman Sheikh Abdullah Bin Mohamed Bin Saud Al Thani said “Our controlling stake in Indosat is a key part of our group expansion plans and we are pleased that the Supreme Court’s decision today removes the District Court’s order, and allows us to keep the shares we acquired in June. We are currently in the process of launching a tender offer to acquire more of this attractive and important asset. We are totally committed to helping Indosat develop into Indonesia’s premier telecoms company, and we will be allocating resources to ensure this happens sooner rather than later. We are still on track to reach our target of being a World Leading Telecommunications company, and being within the Top 20 by 2020.”
He also added that they were aware of the legal issues during the time of purchase and is now confident about delivering significant benefits to Indosat shareholders and to the entire communications market in Indonesia.
