CK Hutchison to merge Indonesian wireless business with Ooredoo’s PT Indosat in US$6.1 billion deal

//CK Hutchison to merge Indonesian wireless business with Ooredoo’s PT Indosat in US$6.1 billion deal

CK Hutchison to merge Indonesian wireless business with Ooredoo’s PT Indosat in US$6.1 billion deal

CK Hutchison, a conglomerate controlled by Hong Kong’s richest man Li Ka-shing, has agreed to merge its Indonesian wireless telecommunications business with the local operations of Qatar’s Ooredoo to sharpen their competition against the market leader.The US$6.1 billion transaction will create Indonesia’s second-biggest mobile carrier with combined annual revenue of about US$3 billion in Southeast Asia’s most populous country. It also will create a more formidable rival to PT Telkomsel, the…

Article by [author-name] (c) Business - South China Morning Post - Read full story here.

By | 2021-09-17T04:30:05+00:00 September 17th, 2021|Business|Comments Off on CK Hutchison to merge Indonesian wireless business with Ooredoo’s PT Indosat in US$6.1 billion deal