30-06-2021
Ooredoo (Q.P.S.C) (Trading Symbol: ORDS.QA) announced today that it is in advanced discussions with CK Hutchison Holding Limited (“CK Hutchison”) regarding a possible merger of their respective telecoms’ subsidiaries operating in Indonesia, namely PT Indosat Tbk (“Indosat”) and PT Hutchison 3 Indonesia (“3 Indonesia”).
The talks between the two parties have witnessed progress and are now in an advanced stage. However, to allow sufficient time to reach a definitive agreement, the two companies have extended the exclusivity period of the non-legally binding MOU with respect to the potential merger until August 16, 2021.
The merger of Indosat and Indonesia 3 will unite two of Indonesia's leading mobile operators to create a new world-class digital communications company. The new combined company will have the level and financial capabilities to drive innovation and accelerate Indonesia's transformation into a digital society.
As of the date of this news release, no decision has been taken to proceed with the merger. Any significant developments regarding this process will be announced in due course.