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PT Indosat Tbk was established in 1967 as a foreign investment company to provide international telecommunications services in Indonesia, commencing its operations in 1969 with the inauguration of the Jatiluhur earth station. In1980, the Government of Indonesia acquired all of the shares of Indosat, which then became a State-Owned Enterprise (SOE).
In 1994, Indosat listed its shares on the Jakarta Stock Exchange, the Surabaya Stock Exchange and the New York Stock Exchange, achieving the distinction of being the first SOE to be listed overseas. From 1969 until 1990, Indosat provided switched and non-switched international telecommunications services, including international direct dialling telephony, international data network communications, international leased lines and international television transmission services.
Entering the 21st century and in keeping with the global trends, the Government of Indonesia decided to deregulate the national telecommunications sector, opening it up to free market competition. From 2001, all cross-ownerships between Indosat and the domestic telecommunications provider, Telkom, have been eliminated, whereas the exclusivity rights of the two telecommunications service providers will be terminated in several stages. Indosat pursued a main course of development of its cellular business starting in the mid 90’s.
In 2001, we established PT Indosat Multi Media Mobile (IM3), followed by acquiring full control of PT Satelit Palapa Indonesia, thus making IndosatGroup the second largest cellular operator in Indonesia. At the end of 2002, the Government of Indonesia undertook a 41.94% divestment of its shares in Indosat to Singapore Technologies Telemedia Pte. Ltd. through the holding company of Indonesia Communications Limited. With this divestment, Indosat is once again a foreign investment company, offering full fledged, integrated network and services in information and communication solutions.
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