PT Telekomunikasi (Telkom) is Indonesia’s fixed-line incumbent. Its shares are traded on the Jakarta, Surabaya, London and New York Stock Exchanges. The Indonesian government holds a majority stake. Telkom owns and operates Indonesia’s PSTN and has a CDMA-based limited mobility fixed wireless network in most cities. In 2002, the government granted IDD incumbent, Indosat, a licence to provide local fixed-line services, breaking Telkom’s monopoly. In May 2004, Telkom received a licence to provide IDD services. Telkom provides mobile services through Telkomsel, owned 65% by Telkom and 35% by SingTel, the largest provider of GSM services in Indonesia, with over 50% market share.