Hong Kong-based CK Hutchison, a port developer and operator, has reached an agreement with Qatar-based Ooredoo, a telecommunications group, to extend the duration of negotiations on a possible deal to merge their respective Indonesia-based subsidiaries Hutchison 3 Indonesia and PT Indosat till June 30, 2021.
No decision has been made to continue with any transaction yet and and there is no certainty over the transaction’s scope and terms. This extension will give the parties more time to finish their current research and discuss the final terms of a potential merger.