Feb. 26--Qatar Telecom Q.S.C. ("the Qtel Group," "the Group," or "Qtel") (QTEL.QA) confirmed that, upon settlement, it will hold a 65% effective stake in PT Indosat Tbk ("Indosat"), the second largest mobile operator in Indonesia.

The majority stake in Indosat, secured by the successful conclusion of co-ordinated dual Tender Offers in both Indonesia and the United States, will mark a significant advance for Qtel in its long term vision of becoming one of the top 20 telecom companies globally by the year 2020.

Indosat is a driving force in the Indonesia telecommunication market: a market which, with some 237.5 million people and mobile penetration rates of just 58% has considerable growth potential for the Group. Moreover, as the country's second largest mobile operator, Indosat commands a 28.7% share of Indonesia's GSM mobile market with over 36.5 million subscribers connected to its nationwide network.

Announcing the conclusion of the co-ordinated dual tender offer process, His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman of the Qtel Group commented: "This is a landmark development for Qtel and will be looked upon in the years ahead as a defining moment for our Group. Indosat operates in a dynamic and growing marketplace and our achievement today means that, upon settlement, we will have an increased interest in how Indosat capitalises on the opportunities open to us in the years ahead.

"We have always been clear about our vision to become one of the world's top 20 telecommunications operators by 2020, and a key part of our strategy is to continue to expand our operations in the high-growth markets of Asia, the Middle East and North Africa. This latest development is a significant milestone that puts us squarely on track to achieving this ambitious goal."

Dr Nasser Marafih, Chief Executive Officer of the Qtel Group added: "This is excellent news and proves the capability and skill of our Qtel team, which has steered this acquisition to a successful conclusion. The Qtel Group is now a driving force in the communication markets of some of the world's most exciting emerging economies.