Deals
CK Hutch, Ooredoo Near Deal for Indonesia Mobile Merger
- CK Hutch in talks to merge Indonesian business with Indosat
- An announcement could come as soon as this week: people
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Hong Kong’s CK Hutchison Holdings Ltd. is nearing a deal with Qatar’s Ooredoo QPSC about a combination of their telecommunications operations in Southeast Asia’s most populous country, according to people with knowledge of the matter.
CK Hutch is in advanced talks to merge its Indonesian telecom business with Ooredoo’s PT Indosat, the people said. Ooredoo owns about 65% of Jakarta-listed Indosat. A deal would involve a cash-and-stock offer, said the people, who asked not to be identified as the discussions are private. Both companies are set to become significant shareholders in the combined entity, the people said.