Ooredoo and CK Hutchison Holdings Limited ("CK Hutchison") have entered into an exclusive and non-legally binding Memorandum of Understanding (MoU) 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 30th April 2021. Ooredoo is in the early stages of assessing the merits of such a potential transaction.
As part of their corporate strategy, Ooredoo regularly reviews their strategic priorities and market position across all 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.