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Qtel eyes stake in Indonesia’s listed telecom firm


October 16, 2008

Qtel eyes stake in Indonesia’s listed telecom firm
Qatar Telecom (QTel) is eyeing a stake in publicly listed telecommunications company PT Bakrie Telecom, reported Indonesian news agency Antara.

There are three investors from Middle East indicating interest in the shares of Bakrie Telecom including QTel, company source told the newspaper Bisnis Indonesia.

Among the three companies QTel, which recently acquired 40.8 per cent stake in the country's second largest telecommunication company PT Indosat, already had discussion on possible acquisition with Bakrie Telecom, the source said.

Bakrie Telecom President Anindya Bakrie refused to give details beyond saying the company is studying acquisition possibility with a number of bidders and that the Bakrie family will maintain the controlling stake.

Earlier, the Bakrie Group said it will sell shares of a number of its subsidiaries including Bakrie Telecom to raise fund to repay a debt of $1.2 billion maturing in April next year.

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