CK Hutchison Holdings on Tuesday announced that it has agreed with Ooredoo to extend the period to pursue negotiations on a potential transaction to combine PT Hutchison 3 Indonesia, a subsidiary of the Company, and PT Indosat TBK, a subsidiary of Ooredoo, on an exclusive basis until midnight, Hong Kong time, on 23 September 2021, which will be the final such extension.
CK Hutchison Holdings entered into an MOU with Ooredoo to combine their Indonesian telecommunications businesses end of last year. Both companies have prior to this signed an agreement to extend the exclusive period till 16 August 2021. The parties continue to progress their discussions, but additional time is needed to finalise definitive documents and, once finalised, to seek their respective internal corporate approvals.
The combination of Indosat and 3 Indonesia would bring together two of Indonesia’s leading mobile telco brands to create a new world-class digital telecommunications company. The combined company would have the scale and financial capabilities to drive innovation and accelerate the transformation of Indonesia into a digital society.
