People Innovation Excellence

[Case Study] PT Indosat Tbk. Divestment Process to Singapore Technologies Telemedia Did The Government Get The Right Price?

Year: 2007

Case number: 107-0516-001

Case Author: Andre Panggabean; Mirna A. Pulungan; Parulian Sihotang

Course Major: Finance

Related Topics: Investment Management

Teaching Note Availability: —

Abstracts:

On 16 December 2002, the Government of the Republic of Indonesia (“Government”) declared Singapore Technologies Telemedia Pte., Ltd. (“STT”) the winning bidder for the divestment of 41.9% shares of the Government in PT Indonesian Satellite Corporation Tbk. (“Indosat”).  STT utilized its subsidiary Indonesian Corporation Limited (“ICL”) to purchase the shares.  This divestment decision attracted various reactions from the public as well as various institutions within the government.

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