Ooredoo said to mull stake sale in Indosat

Qatari company’s holding in Indonesian telecom operator is estimated at $1.4b

Gulf News

London, Hong Kong: Ooredoo QSC is exploring options including a sale of its controlling stake in Indonesia’s phone carrier PT Indosat as the Qatari phone company seeks to raise cash and focus on its more profitable Middle Eastern markets, according to people familiar with the matter.

Ooredoo could sell its 65 per cent stake in Indosat to another phone company willing to expand in the region, the people said, asking not to be identified because the deliberations are private. The holding has a market value of about $1.4 billion (Dh5.14 billion). No final decision has been made and deliberations are still at a preliminary stage, the people said. A representative for Ooredoo declined to comment.