Indonesia’s Bakrie Group plans to buy a 10-15 per cent stake in PTIndosat, the country’s second largest mobile phone firm, in the open market

Indonesia’s Bakrie Group plans to buy a 10-15 per cent stake in PT Indosat, the country’s second largest mobile phone firm, in the open market. The plan comes as Qatar Telecom (Qtel), which has recently increased its stake in Indosat to 40.8 per cent, confirmed that it will offer to buy a further 44.9 per cent stake in Indosat at 7,388 rupiah per share. Temasek Holdings’ Singapore Technology Telemedia sold its 30.8 per cent stake in Indosat to Qtel for $1.35 billion following a dispute over whether Temasek’s units had violated Indonesia’s anti-monopoly rules by owning stakes in the two mobile phone companies. Through Singapore Telecommunications (SingTel), Temasek also owns 35 per cent of PT Telekomunikasi Selular.