Ooredoo Group Extends Exclusivity Period of MOU with CK Hutchison to Combine Indonesian Businesses
Doha, Qatar, 28 April 2021: Ooredoo Q.P.S.C. (“Ooredoo”) - Ticker: ORDS today announces that it has extended the period of exclusivity for the non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited (“CK Hutchison”) 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.
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