Ooredoo, CK Hutchison discuss merger of operations in Indonesia
Dec 28, 2020
**Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker ORDS – ** has entered into an exclusive and non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited ("CK Hutchison") in relation to a potential transaction to combine their respective telecommunications businesses in Indonesia, PT Indosat Tbk and PT Hutchison 3 Indonesia. The exclusivity period for the MoU is valid until 30 April 2021.
Ooredoo is in the early stages of assessing the merits of such a potential transaction.
As part of our corporate strategy, we regularly review our strategic priorities and market position across all of our operations, and their contribution to the Ooredoo Group.
Ooredoo would like to emphasize that no binding agreement in relation to the possible combination has been entered into as at the date of this announcement. The Company will make a further announcement as and when appropriate.
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