Qatar Telecom Q.S.C. (“Qtel”) has set a final proration factor of approximately 56.54% for its concurrent tender offers for shares of PT Indosat Tbk (“Indosat”), as the offers were oversubscribed.

The offers for Indosat (IDX: ISAT; NYSE: IIT) were launched on January 20 2009, and expired on February 18 2009, at 3pm in Jakarta and 3am in New York. Qtel had earlier offered to purchase up to 24.19% of Indosat’s share capital or 1,314,466,755 Series B Shares, including Series B Shares underlying American Depositary Shares (“ADSs”).

The offers will be settled on or before March 5, 2009. Payment for all Series B Shares accepted in the Indonesian offer will be made in Indonesian rupiahs, while payment for all ADSs accepted in the US offer will be made in US dollars.  All tendered Series B Shares and ADSs that were not accepted for purchase in the offers will be returned to the tendering holders.