Indosat: Temasek likely to keep stake in Telkomsel but divest stake in Indosat - report
Indosat, the Indonesian-based telecom, will likely be sold if Temasek fails to appeal judgment by anti-monopoly watchdog group, reported the Straits Times. <br>Competition Supervisory Commission (KPPU), the Indonesian anti-monopoly watchdog, ruled against Temasek on Monday noting that the company had violated foreign ownership laws through its stake in Indosat and Telkomsel. As a result of the decision, Indosat may be forced to sell off either its stake in Indosat or its stake in Telkomsel. A Citigroup report noted that the Telkomsel business was much more valuable than the business of Indosat. Source : Strait Times
