Temasek Pays $2M Fine For Indonesian Antitrust Claims

Law360, New York (February 11, 2011, 3:25 PM EST) -- Singapore investment company Temasek Holdings Pte Ltd. has paid a 15 billion rupiah ($1.7 million) fine to resolve claims that it breached Indonesia's anti-monopoly laws by holding a minority stake in two of the country's largest cell phone operators.

Temasek, which is owned by the Singapore government, announced Friday that it had informed Indonesia's antitrust watchdog Commission for the Supervision of Business Competition, or KPPU, and the Central Jakarta District Court that the Indonesian government had acknowledged receipt of the company's payment of its fine....
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