Indonesian telecoms stocks fall on anti-monopoly ruling

Shares of the largest telecommunication firm, PT Telekomunikasi Indonesia Tbk (Telkom) opened down 3.35 percent at 10,100 rupiah at the start of trading. Telkom

owns 65 percent of Indonesia's biggest mobile phone operator Telkomsel.

PT Indosat Tbk, Indonesia's second-largest mobile phone operator, opened down 2.38 percent at 8,200 rupiah on Tuesday following a ruling by the country's anti-monopoly

agency.

KPPU, the anti-trust agency, said on Monday that it had found evidence that Singapore state investor Temasek Holdings and its telecoms units had breached Indonesia's competition law, and ordered Singapore to divest its shares in

one or other of the two Indonesian telecoms firms in which it owns stakes.