“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Sunday, June 29, 2008

Indonesia scraps proposal to limit takeovers to 80%

Gulf Times, Sunday, 29 June, 2008, 01:45 AM Doha Time

JAKARTA: Indonesia’s capital markets regulator will allow investors to buy all the shares of a company during a mandatory general offer, scrapping a proposal to limit purchases to 80%.

Under the new proposal, investors will have to sell a 20% stake in the takeover target to the public at a later date, Ahmad Fuad Rahmany, chairman of the Capital Market and Financial Institutions Supervisory Agency, said.

The regulator raised the threshold that will trigger a mandatory offer to 50% from 25%, Rahmany said. The new rules would allow Qatar Telecom to abandon its general offer for PT Indosat, Indonesia’s second-largest phone company.

“Qatar Telecom is not obligated to do a tender offer,” Rahmany said in a mobile-phone text message on Friday.

On June 7, Qtel agreed to pay $1.76bn to buy a 40.8% stake in Indosat. The Doha- based company said on Friday it would complete a general offer in 30 days, at a price of 7,388 rupiah a share.

“If they voluntarily want to buy public shares, then they might be limited by other regulations,” Rahmany said.

Under government rules, an overseas investor is limited to a 65% stake in an Indonesian mobile-phone operator and a 49% stake in a fixed-line phone company. Indosat made 77% of its sales from its mobile-phone units.

Malayan Banking, Malaysia’s biggest bank that’s buying 56% of PT Bank Internasional Indonesia, may have to offer to buy all the shares of the Indonesian bank. Bank Internasional’s shares rose 5.8% to 460 rupiah at the Jakarta close, a two-week high.

Still, investors said the requirement to ensure 20% of the stock is owned by the public at a later date may deter some companies from purchasing rivals.

“Selling shares at a later stage can be problematic because share prices may decline over time,” said Finny Fauzana, who helps manage about $347mn in assets at PT PNM Investment Management in Jakarta. “That’s bad for the company making the acquisition.” – Bloomberg

No comments: