CK Hutchison recently announced that it has agreed with Ooredoo to extend the period to pursue negotiations on a potential transaction to combine Hutchison 3 Indonesia, a subsidiary of CK Hutchison, and Indosat, a subsidiary of Ooredoo on an exclusive basis until 30 June 2021.
Negotiations between the parties have been constructive but require more time to conclude, said CK Hutchison in a statement. This extension will provide more time to complete the ongoing due diligence and negotiate the final terms of a possible combination of the entities. As of the date of this announcement, no decision has been taken to proceed with a transaction and there is no certainty over what the scope or terms of such a transaction would be.
