DOHA, QATAR: Ooredoo Q.P.S.C. has extended the period of exclusivity for the non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited in relation to a possible transaction to combine their respective telecommunications businesses in Indonesia, PT Indosat Tbk and PT Hutchison 3 Indonesia, until 30 June 2021.
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. Any material developments with respect to the transaction will be announced in due course.
Ooredoo is an international communications company operating across the Middle East, North Africa and Southeast Asia. Serving consumers and businesses in 10 countries, Ooredoo delivers the leading data experience through a broad range of content and services via its advanced, data-centric mobile and fixed networks.
Ooredoo generated revenues of QAR 29 billion as of 31 December 2020. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.