Tuesday, January 18, 2022

Indonesia has approved the merger of Qatar’s Ooredoo, CK Hutchison units

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JAKARTA, Jan. 4 (Xinhua) – Indonesia on Tuesday approved a $ 6 billion merger of Qatar’s Ooredoo and Hong Kong’s CK Hutchison TV companies and set a deadline of 2025 to boost the joint organization’s services, the communications minister said.

In September, CK Hutchison Holdings and Ooredoo merged to announce an agreement that would make Indosat Ooredoo Hutchison the country’s second-largest telecommunications company after state-backed Telkomsel.

The government had already given the main permission to merge in November.

Once merged, Indosat will have to increase its tower area by at least 11,400 by 2025 and expand mobile services to cover at least 7,660 villages or districts by 2025, Minister Johnny G. Plate said at a news conference.

It also needs to improve service quality by 2025 by increasing downloads and uploads by at least 12.5 percent, he said.

Indosat should return the 5 megahertz spectrum to the state within a year after it was approved on Tuesday, he said.

“We hope that the national telecommunications industry will be more efficient and effective in supporting the national digital transformation,” the minister said, adding that the merger will strengthen the capital structure of Indosat.

Indosat director Vikram Sinha told the conference that the company was committed to meeting the requirements set by the government. (Reporting by Gayatri Suroyo; edited by Sanjeev Miglani)

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