SingTel Faces Probe By Indonesia Competition Commission
SINGAPORE -(Dow Jones)- Singapore Telecommunications will be scrutinized by Indonesia's business competition regulator over allegations of monopolistic practices in the Muslim nation's telecommunications industry, the company said Friday.
SingTel said in a statement that it and its Singapore Telecom Mobile Pte. Ltd. unit have been called before the Commission for Supervision of Business Competition, but didn't give a date for the hearing.
The commission is investigating allegations that units of Temasek Holdings Pte. Ltd., Singapore's state-owned investment company, have colluded over pricing in the Indonesia market.
Temasek's wholly-owned ST Telemedia unit owns 39.96% of PT Indonesia Satellite Corp, or Indosat, a mobile telephone operator.
Temasek also owns 56% of SingTel, which has a 35% stake in Indonesia's largest cellular operator, unlisted PT Telkomsel.
ST Telemedia has rejected the allegations.
-By Singapore Bureau; Dow Jones Newswires; 65-6415-4150; djnews.singapore.bureau@dowjones.com
-Edited by David Bottomley
(END) Dow Jones Newswires"
Posted to the site on 29th June 2007
