Tomorrow is the Official Announcement of the Fate of the Indosat-Tri Merger

Jakarta

Official announcement of the results of the process merger Among Indosat Ooredoo and Hutchison 3 Indonesia (Tri) will be known tomorrow, Wednesday (30/6). Will they agree to become one company or will it end in an anti-climax?

June 30, 2021 is the deadline alias deadline discussion of the merger conducted by Indosat and Tri which has existed for six months since December 2020.

“Still waiting for the announcement tomorrow afternoon. Currently, we are still waiting for the decision of the two shareholders,” said Deputy President Director and Chief Sales Officer of Tri Indonesia, M Danny Buldansyah when contacted by detikINET, Tuesday (29/6/2021).

three money, Indosat also expressed a statement that was not much different from what was conveyed Indonesian Tri.

“Further developments will be announced by our shareholders soon,” said Steve Saerang, senior vice president of corporate communications at Indosat Ooredoo.

Steve said that the discussion process Indosat and Tri merger this is still in the stage of due diligence or thorough testing.

“Indosat cannot provide further confirmation other than the latest information that has been previously submitted. Before the expiration date of the MoU, there will definitely be an official announcement from our shareholders,” said Steve.

Previously, Ooredoo and CK Hutchison Holdings Limited (CK Hutchison) signed Memorandum of Understanding (MoU) exclusively for the potential to combine the telecommunications business between Indosat Ooredoo and Hutchison 3 Indonesia. The MoU was signed at the end of December 2020.

It is stated that the exclusivity period of this MoU is valid until April 30, 2021. However, before the deadline, the two companies agreed to extend it until June 30, 2021. During that time, Tri and Indosat are prohibited from cooperating with other operators as long as the MoU is valid.

It is known that Ooredoo owns about 65% of Indosat’s shares. Meanwhile, in Indonesia, Hutchison has Tri, which is managed by PT Hutchison 3 Indonesia. The deal will involve a cash and stock offering.

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(eight / fay)

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