However, the deal was delayed after Indonesian regulators moved to limit foreign ownership in local lenders.
The constitution prohibits foreign ownership of land, with residential condominiums being the only exception in practice.
WSJ: Business Asia: Investing: It's More Frustrating in the Philippines
To that end, Najib has loosened the quota system that has limited foreign ownership.
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Thirdly, a relaxation of restrictions on foreign ownership and competition, ranging from tariffs to ownership regulations.
The so-called multiple-service contracts that resulted obeyed the bar to foreign ownership while still attracting capital.
Above all, they oppose any serious easing of the laws on foreign ownership of property.
Lower-than-the-Asian-average caps on foreign ownership of airport operators and airlines deter foreign investment in transport services.
WSJ: Business Asia: Investing: It's More Frustrating in the Philippines
In a continent chronically unhappy about foreign ownership of land, this is an astonishing concession.
IMF-ordered reforms in South Korea, Indonesia and Thailand, caps on foreign ownership have been relaxed.
The authorities have no hang-ups about foreign ownership: international banks will be invited to bid.
Mr Fazio, whose opposition to foreign ownership of Italian banks is well known, met Antonveneta shareholders.
Back in the 1890s, the French government banned foreign ownership of the pigeon post.
After restrictions on foreign ownership were relaxed last year, some big buyers have come in.
For years, the Kremlin had publicly weighed lifting restrictions on foreign ownership of Gazprom's domestically traded shares.
The UnitedHealth deal may face a regulatory challenge because of Brazilian restrictions on foreign ownership of hospitals.
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India is opening up its food markets and distribution system to foreign ownership for the first time.
Chelsea, Liverpool and Manchester United are among other high-profile teams in the English top-flight under foreign ownership.
Mobius is also bullish on Korea, with the strong yen and the higher 15% foreign ownership ceiling.
The move comes after lawmakers raised concerns about national security being compromised by foreign ownership of port terminals.
Once foreign ownership crosses 25 percent, a company is considered a joint venture and subject to additional restrictions.
Back in July, the Brazilian government announced it was putting a limit on foreign ownership of land.
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To address foreign ownership issues in China, DST and Silver Lake will cede voting control to Alibaba management.
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Significantly, Time Warner owns no cable systems in Asian countries, most of which limit or exclude foreign ownership.
Manufacturing is almost entirely open to 100% foreign ownership, but electricity transmission remains highly restricted and thus uncompetitive.
WSJ: Business Asia: Investing: It's More Frustrating in the Philippines
Do you know of cases where foreign ownership has deteriorated the environment or otherwise penalized the local population?
This winter the Russian parliament relaxed rules on foreign ownership of shares, which trade as American Depositary Receipts.
The government also pledged to lift the 25% limit on foreign ownership of financial institutions -- for 10 years.
Thus, the law limiting foreign ownership of the Argentine media had no effect on the company's private debt restructuring.
In 2004, cross-shareholdings accounted for merely 24% of shares whereas foreign ownership had risen to 22% of the total.
It privatised almost everything, shunning tariffs, subsidies, bail-outs and restrictions on foreign ownership.
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