Dahlan Supports Indosat Stock Buyback

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    TEMPO.CO, Jakarta - State Enterprises Minister Dahlan Iskan will support the stock buyback plan of PT Indosat that will change its brand to Indosat-Ooredoo. He said the plan needs to be done in order to restore national resilience, particularly in telecommunication. “Who has the idea? It’s good,” said Dahlan on Monday.

    However, he said what needs to be considered is the offered price must be adjusted to current economic value, which means that if the Indonesian government wants to have Indosat back, the purchasing price must be in according to Indosat’s stock price today. “If the price is very expensive, is buyback necessary?” he said.

    Dahlan admitted that he has not known yet the corporate plan of the company. “It’s not our business, but the stakeholders’,” he said.

    The plan to buyback Indosat which is owned by Qatar Telecom by 67 percent emerged in the presidential debate several times ago. The buyback attempt needs to be conducted to secure the country’s security. However, there has been no negotiation regarding the plan.