Qatar Telecom Says Wins Challenge to Ownership of Indosat Stake

By Arif Sharif

Sept. 14 (Bloomberg) -- Qatar Telecom QSC, which paid $1.8 billion in June to buy a 40.8 percent stake in Indonesia's PT Indosat, said the Indonesian Supreme Court had thrown out the legal challenge to its ownership of the stake.

``The Supreme Court's decision today removes the District Court's order, and allows us to keep the shares we acquired in June'' in Indonesia's second-biggest mobile phone operator, Qtel Chairman Sheikh Abdullah bin Mohammed Bin Saud Al-Thani, said in a statement posted on the Doha bourse Web site today.

Qatar Telecom is in the process of starting a tender to buy more Indosat shares, the statement added.

To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net