Temasek’s final appeal rejected by Indonesia’s SC

www.WirelessFederation.com/news: Singapore-based Temasek Holding’s final appeal against a decision by the country’s anti-monopoly authorities concerning its telecoms investments has been rejected by Indonesia’s Supreme Court.

Temasek Holdings has stakes in PT Telekomunikasi Selular (Telkomsel) which Indonesia’s largest cellcos by subscribers and PT Indosat through its Singapore Technologies Telemedia STT unit. However, it was forced to sell its stake in Indosat to Qatar Telecom for USD1.35 billion, following the ruling by the Komisi Pengawas Persaingan Usaha (KPPU).

The anti-monopoly commission adjudged in 2007 that Temasek and its affiliates were in breach of Indonesia’s anti-monopoly laws and ordered the sale of one of their telecom units in Indonesia. According to a spokesman for the KPPU, the Supreme Court through its verdict on 5 May 2010, as written on its official website, states that it has rejected a judicial review, filed by Temasek, over the Supreme Court decision.