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Indonesia agency receives payment from Telkomsel over Temasek row
JAKARTA | Mon Jan 17, 2011 12:18pm GMT
Jan 17 (Reuters) - Indonesia's anti-trust agency (KPPU) has received 15 billion rupiah from PT Telkomsel, an affiliate of Singapore's Temasek Holdings , as part payment of an outstanding fine owed by the Singapore firm, it said on Monday.
The KPPU ruled in 2007 that Temasek and nine affiliates were in breach of Indonesia's anti-monopoly laws and ordered Singapore's state investor to sell its interest in one telecoms company while fining the affiliates 15 billion rupiah each.
The agency last month threatened to seize assets to the value of the fines if Temasek's affiliates did not comply.
Indonesia's supreme court rejected a final appeal from Temasek to overturn the ruling in May this year.
The agency said on Monday urged Temasek and the rest of its affiliated entities to pay up the fines.
Temasek, through its units, sold a stake in PT Indosat Tbk in 2008 but retains a significant shareholding in PT Telkomsel, a unit of PT Telekomunikasi Indonesia .
(Reporting by Janeman Latul; Editing by David Fox)gl
Indonesia agency receives payment from Telkomsel over Temasek row
JAKARTA | Mon Jan 17, 2011 12:18pm GMT
Jan 17 (Reuters) - Indonesia's anti-trust agency (KPPU) has received 15 billion rupiah from PT Telkomsel, an affiliate of Singapore's Temasek Holdings , as part payment of an outstanding fine owed by the Singapore firm, it said on Monday.
The KPPU ruled in 2007 that Temasek and nine affiliates were in breach of Indonesia's anti-monopoly laws and ordered Singapore's state investor to sell its interest in one telecoms company while fining the affiliates 15 billion rupiah each.
The agency last month threatened to seize assets to the value of the fines if Temasek's affiliates did not comply.
Indonesia's supreme court rejected a final appeal from Temasek to overturn the ruling in May this year.
The agency said on Monday urged Temasek and the rest of its affiliated entities to pay up the fines.
Temasek, through its units, sold a stake in PT Indosat Tbk in 2008 but retains a significant shareholding in PT Telkomsel, a unit of PT Telekomunikasi Indonesia .
(Reporting by Janeman Latul; Editing by David Fox)gl
