Ooredoo (Qatar Telecom (Qtel) Q.S.C.) - Ticker: QTEL.QA today reported that its Group subsidiary  PT Indosat Tbk (“Indosat” or the “Company”) (Ticker: ISAT: IDX, IIT: NYSE) has announced that it intends to delist its American Depositary Receipts (“ADRs”) from the New York Stock Exchange (“NYSE”) and its ADRs will not be listed or quoted on another national securities exchange in the U.S. The Company intends to file a Form 25 with the U.S. Securities and Exchange Commission (“SEC”) to effect the delisting on or about the 16th of May 2013.

Indosat’s ADR programme was originally undertaken in 1994 in order to provide access to liquidity from investors unable to invest directly in the Indonesian domestic market.

The Indonesian Stock Exchange (“IDX”) has matured significantly throughout the ensuing period and has developed a significant foreign institutional equity base.

As such, both Indosat’s Board of Directors and Board of Commissioners have a supported a request by the Government of Indonesia to review the listing and are confident that the IDX will be sufficient for the company’s future capital needs.

Furthermore, the delisting will also reduce the administration costs and the complexity associated with an NYSE listing.