In a major policy about-face, the Indonesian government has allowed Qatar Telecom (QTel) to buy up a larger stake in mobile operator Indosat.
Indonesian regulation prevents foreign investors from owning larger than a 49% stake in fixed-line providers, but allows the ownership of up to 65% of mobile operators.
As Indosat is primarily a mobile provider, QTel had argued it should be allowed to own a 65% stake. But because Indostat also has a fixed-line business, the government had previously disallowed a larger investment.
According to the Financial Times, QTel representatives have indicated they will seek to acquire a majority stake as soon as authorities allowed.