ID :
13708
Thu, 07/24/2008 - 19:38
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https://www.oananews.org//node/13708
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QTEL ONLY ALLOWED TO BUY 8.2 PCT OF INDOSAT SHARES : BAPEPAPM-LK
Jakarta, July 24 (ANTARA) - The Capital Market and Financial Institution Supervisory Board (Bapepam-LK) said Qatar Telecom (QTel) is only allowed to buy a maximum of 8.2 percent of state telecommunications operator Indosat's shares.
"There is a sectoral regulation restricting share purchases so QTel cannot buy more than 8.2 percent of Indosat shares," Bapepam-LK Chairman Fuad Rahmany said here on Thursday.
He said QTel must not violate a regulation allowing a foreign company to hold not more than 49 percent of a national company's shares. "We must safeguard the sectoral policy to protect the national interest," he said.
Under a presidential regulation on the negative investment list, a foreign company is only allowed to control a maximum of 49 percent of a national company's shares, he said.
QTel was currently already controlling 40.8 percent of Indosat shares so that it could only be allowed to increase its stake in the country's second largest telecommunication operator by at most 8.2 percent, he said.
Asked to comment on reports that QTel was cooperating with national businessman Rahmat Gobel to increase its shares in Indosat, Fuad said he lacked precise knowledge about the cooperation.
"We have no objection to the cooperation but it will never make QTel control more than 49 percent of Indosat shares," he said.
"There is a sectoral regulation restricting share purchases so QTel cannot buy more than 8.2 percent of Indosat shares," Bapepam-LK Chairman Fuad Rahmany said here on Thursday.
He said QTel must not violate a regulation allowing a foreign company to hold not more than 49 percent of a national company's shares. "We must safeguard the sectoral policy to protect the national interest," he said.
Under a presidential regulation on the negative investment list, a foreign company is only allowed to control a maximum of 49 percent of a national company's shares, he said.
QTel was currently already controlling 40.8 percent of Indosat shares so that it could only be allowed to increase its stake in the country's second largest telecommunication operator by at most 8.2 percent, he said.
Asked to comment on reports that QTel was cooperating with national businessman Rahmat Gobel to increase its shares in Indosat, Fuad said he lacked precise knowledge about the cooperation.
"We have no objection to the cooperation but it will never make QTel control more than 49 percent of Indosat shares," he said.
