Indosat Ooredoo (Indosat) and Hutchison 3 Indonesia (H3I) officially merged on September 16. This combined company was later named PT Indosat Ooredoo Hutchison Tbk (Indosat Ooredoo Hutchison).
At the end of the merger transaction, Indosat Ooredoo Hutchison will be jointly controlled by Ooredoo Group and CK Hutchison. The combined company will remain listed on the Indonesia Stock Exchange.
Long before the merger, Indosat had already gone through the twists and turns of the journey in the country. From historical records, Indosat was once a state-owned company until it was sold to Singapore and bought by Qatar.
Detikcom summarizes Indosat’s long journey at the age of 53 years. Here’s the review.
PT Indosat Tbk was established in Indonesia on November 10, 1967 as a foreign investment company providing international telecommunications services in Indonesia. Under the leadership of President Suharto, Indosat’s shares were successfully acquired in 1980. This was done with the aim of supporting the satellite program.
After becoming a BUMN, the company was listed on the Indonesia Stock Exchange (IDX) in 1995. Indosat also established Telkomsel, a joint venture company with PT Telkom.
Since then the Indonesian government has fully controlled Indosat. In 2001, Indosat entered the Indonesian cellular market through the acquisition of a majority stake in Satelindo and the establishment of PT Indosat Multi Media Mobile (IM3).
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