Price pressures hit world’s sixth-largest mobile market despite strong growth
A plan aimed at forcing Singapore-based sovereign wealth fund Temasek Holdings to relinquish one of its indirect shareholdings in Indonesia’s two largest mobile operators (Indosat and Telkomsel) has run into controversy as Temasek agreed to sell its stake in Indosat to Qatar Telecom, an affiliated company.
Qatar Telecom is willing to pay as much as US$2 billion for the remaining 44.9 percent of PT Indosat shares but is still waiting for the approval of its bid from Indonesia’s market regulator, notes Cellular News.
Cellular News reports that Qatar Telecom’s investment in Indonesia’s PT Indosat will be restricted to 49 percent (the foreign ownership limit imposed on fixed-line operators), an official with the Indonesian capital markets regulator Bapepam said Monday.
Indonesian CDMA operators Mobile-8 Telecom and Smart Telecom have launched commercial CDMA2000 1xEV-DO services to counter 3G/WCDMA offerings from rivals such as Telkomsel, Indosat and Excelcomindo, reports Telegeography, citing CNETAsia.