Temasek files appeal against Indonesia telco ruling

SINGAPORE, May 22 (Reuters) - Singapore state investor Temasek Holdings [TEM.UL] said on Thursday that it has filed an appeal against an Indonesian court ruling that it divests its stake in one of two mobile phone companies.

"Temasek has filed an appeal to Indonesia's Supreme Court," the firm said in a statement. "Temasek has not broken any laws and will vigorously contest all allegations against us."

An Indonesian district court on May 9 ordered Temasek and its affiliates to sell its holdings in either PT Telekomunikasi Selular (Telkomsel) or PT Indosat Tbk (ISAT.JK), upholding an earlier ruling by the country's anti-trust body.

The Singapore state investor has denied engaging in anti-competitive behaviour, saying it owned minority stakes in both mobile operators.

Asia Mobile Holdings, which is 75 percent owned by Temasek, holds around 40 percent of Indosat. Temasek, through Singapore Telecommunications Ltd (STEL.SI), also has a 35 percent stake in Telkomsel. (Reporting by Kevin Lim, editing by Neil Chatterjee)