MENAFN - 26/12/2008
(MENAFN) The Chairman of Qtel Group, Sheikh Abdullah bin Mohammed bin Saud Al Thani, announced that the Indonesian government has agreed to allow Qtel to acquire an up to 65 percent stake in Indosat, The Peninsula reported.
The Indonesian government provided its allowance to Qtel within the previously agreed offer price of $0.7 per share.
Al Thani said that his company is pleased to be in a position to move forward with this tender offer with Indosat's integrated business intact, adding that this move will put Indosat in a great position to compete aggressively in the future.
Qtel will work on clearing the arrangements for the tender offer with market regulators in early January 2009
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