Bloomberg.com
9 May 2008
May 9 (Bloomberg) -- Temasek Holdings Pte, Singapore's state-owned investment company, lost its appeal on an Indonesian antitrust ruling and was ordered to sell its stake in either of the country's two biggest mobile-phone operators within a year.
An Indonesian court today ruled in favor of the competition regulator, which said Temasek breached antitrust laws by using indirect stakes in PT Telekomunikasi Selular, known as Telkomsel, and PT Indosat to fix prices. Temasek was earlier asked to sell either stake within two years.
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