Ooredoo Q.P.S.C. (“Ooredoo”) – Ticker ORDS – has entered into an exclusive and non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited ("CK Hutchison") 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 30 April 2021.
Ooredoo is in the early stages of assessing the merits of such a potential transaction.
As part of our corporate strategy, we regularly review our strategic priorities and market position across all of our 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.
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 30 billion as of 31 December 2019. Its shares are listed on the Qatar Stock Exchange and the Abu Dhabi Securities Exchange.