QTel Will Start Tender Offer Indosat Shares on Jan 20
Indosat Chief Commissioner, H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al Thani on his press released Sunday (1/18/09) informed that Qatar Telecom Q.S.C (Qtel) will start the tender offer process of PT Indosat Tbk (ISAT) share in Indonesia Stock Exchange (BEI) and New York Stock Exchange (NYSE) on Januari 20, 2009. Qtel will buy 24,19% shares at the price of Rp 7.388 per share.
Qtel will buy 1.314.466.775 of B-series shares which also include the share in American Depositary Shares (ADSs). Both shares registered in BEI and NYSE with the total shares of 24,19% from the total ISAT shares. For your information, total ISAT shares are 5.433.933.500 shares.
The tender offer will be started January 20, 2009 and will be closed on on 15.00 JATS and 03.00 NYSE on February 28, 2009.
For your information, QTel has bought 40.81% ISAT share on June 22. According to Indonesian regulation, the total amount of cellular business for foreign investor is 65%. So, QTel wants to fulfill it to the maximum amount allowed.
By maximizing its share in Indosat, QTel seriously wants to reinforce Indosat position and develop it into one of the foremost regional telecommunication companies. This does not only increase the value of the share, but also beneficial for its customer.
This offer will be made through Indonesia Communications Pte. Ltd, QTel subsidiary company. It is supposed to finish in 15 days on March 5, 2009.
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