JAKARTA. After a long process of negotiation, PT Indosat Ooredoo Tbk (ISAT) and PT Hutchison 3 Indonesia (Tri) decide to merge their companies, now projecting revenue to reach USD 3 billion. Indosat Ooredoo Hutchison would then be the second biggest telecommunication provider in Indonesia.
The press release by ISAT yesterday (16/9) explained that Ooredoo QPSC, the parent company of ISAT, and CK Hutchison Holdings Limited, the parent company of Tri, had signed a definitive transaction agreement regarding the fusion of their respective telecommunication businesses in Indonesia.
Aziz Aluthman Fakhroo, Managing Director of Ooredoo Group, affirms that along with this arrangement, his company would focus on finishing up the transaction and collaborate with CK Hutchison to combine each of their advantages as global telecommunication groups to establish a world-class digital telecommunication provider in Indonesia.
Canning Fok, Group Co-Managing Director of CK Hutchison Holdings Limited, claims that Indosat Ooredoo Hutchison would be positioned as the accelerator in network establishment and development to further support digitalisation agenda of Indonesia. Moreover, it could offer advantages for the users and the mass public in general.
Fok continues by stating that Indosat Ooredoo and Tri have complementary infrastructures. Thus, uniting these assets would allow the company to gain more from costs and capital expenditure synergy. (AM/ZH)