Qtar Telecom’s bid for an additional 44.9 per cent stake in Indonesian fixed line operator Indosat has been rejected by the Indonesian government.

Qatar Telecom’s bid for an additional 44.9 per cent stake in Indonesian fixed line operator Indosat has been rejected by the Indonesian government. This is because Qatar Telecom already has 40.8 per cent stake in Indosat and the additional stake would increase the company’s shareholding past the permissible foreign ownership limit of 49 per cent. However, the Indonesian stock market regulator, Bapepam, has permitted Qatar Telecom to acquire another 8.2 per cent of Indosat’s shares.