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Qatar s Ooredoo, CK Hutchison to merge Indonesian telecom units
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Qatar s Ooredoo, CK Hutchison to merge Indonesian telecom units
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Ooredoo, CK Hutchison to merge Indonesian telecom units in $6b deal
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By Reuters Staff
3 Min Read
DUBAI/JAKARTA (Reuters) -Qatar’s telecoms company Ooredoo and Hong Kong conglomerate CK Hutchison Holdings are exploring a deal to merge their Indonesian units, the two companies said on Monday.
A deal between Indosat and PT Hutchison 3 Indonesia would help them to better compete against state-backed Telkomsel which controls around half of the cellular market in the world’s fourth most populous country.
Ooredoo, which owns a 65% stake in Indosat, said in a statement the two companies have signed a non-legally binding memorandum of understanding which is valid until April 30, 2021.
“Ooredoo is in the early stages of assessing the merits of such a potential transaction,” it said.
Qatar s Ooredoo, Hong Kong’s CK Hutchison in talks to merge Indonesian telco units 29 Dec 2020 / 00:47 H. REUTERSPIX
DUBAI/JAKARTA: Qatar s telecoms company Ooredoo and Hong Kong conglomerate CK Hutchison Holdings are exploring a deal to merge their Indonesian units, the two companies said on Monday.
A deal between Indosat and PT Hutchison 3 Indonesia would help them to better compete against state-backed Telkomsel which controls around half of the cellular market in the world s fourth most populous country.
Ooredoo, which owns a 65% stake in Indosat, said in a statement the two companies have signed a non-legally binding memorandum of understanding which is valid until April 30, 2021.