Ooredoo Q.P.S.C. Ooredoo Group Extends Exclusivity Period of MOU (6701D)
30 Junho 2021 - 7:44AM
UK Regulatory
TIDM62AO
RNS Number : 6701D
Ooredoo Q.P.S.C.
30 June 2021
30 June 2021
Ooredoo Group Extends Exclusivity Period of MOU with CK
Hutchison to Potentially Combine their Indonesian Businesses
Ooredoo Q.P.S.C. ("Ooredoo") - Ticker: ORDS and CK Hutchison
Holdings Limited ("CK Hutchison") (together the "Parties") are
currently in advanced discussions regarding a possible transaction
to combine their respective telecommunications businesses in
Indonesia, PT Indosat Tbk ("Indosat") and PT Hutchison 3 Indonesia
("3 Indonesia").
Discussions between the Parties have been progressing well and
are at an advanced stage. To allow time to finalise definitive
agreements, the two Parties have extended the period of exclusivity
for the non-legally binding Memorandum of Understanding (MoU) in
relation to the possible transaction until 16 August 2021.
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.
As of the date of this announcement, no decision has been taken
to proceed with a transaction. Any material developments with
respect to the transaction will be announced in due course.
- Ends -
About Ooredoo
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.
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END
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June 30, 2021 06:44 ET (10:44 GMT)
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