And, speaking of creative destruction.......
TELKOM MAY LOSE MONOPOLY - INDONESIA GOVT OFFICIAL
JAKARTA, Sept 15 (Reuters) - Indonesia said on Tuesday Telkom may lose its monopoly on domestic telecommunications services, while Indosat and Satelindo may also lose their duopoly on the country's international telecommunications services.
"Yes, more or less," Director General of Post and Telecommunications Sasmito Dirjo told Reuters on the sidelines of a parliamentary hearing, when asked whether under a new draft telecommunications law, currently being worked out by the government, the firms were likely to lose the privileges.
JAKARTA, Sept 15 (Reuters) - Jakarta shares tumbled more than three percent on Tuesday, pulled down by market heavyweights Telkom and Indosat <ISAT.JK> on news that the firms could face increased competition in telecommunications, dealers said.
By 0755 GMT the composite index was down 3.3 percent at 310.01 points. Telkom was down 11.25 percent at 1,775 rupiah and Indosat was 4.91 percent weaker at 6,775 rupiah. The two firms together make up more than 25 percent of the market's capitalisation.
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