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CK HUTCHISON HOLDINGS LIMITED

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Ooredoo extends exclusivity period with CK Hutchison on Indonesia deal

04/28/2021 | 07:52am EST
FILE PHOTO: FILE PHOTO: The company logo of CK Hutchison Holdings is displayed at a news conference in Hong Kong

DUBAI (Reuters) - Qatari's Ooredoo said on Wednesday it has extended the period of exclusivity for a memorandum of understanding with CK Hutchison Holdings Ltd for a possible combination of their respective telecommunications businesses in Indonesia.

The period for the non-legally binding MOU to combine PT Indosat Tbk and PT Hutchison 3 Indonesia will be extended until June 30, it said in a statement.

  "This extension will provide more time to complete the ongoing due diligence and negotiate the final terms of a possible combination of the entities," it said.

Ooredoo and Hong Kong conglomerate CK Hutchison Holdings are exploring a deal to merge their Indonesian units, the two companies said late last year.

A deal between Indosat and PT Hutchison 3 Indonesia would help them to better compete against state-backed Telkomsel which controls around half of the cellular market in the world's fourth most populous country.

(Reporting by Saeed Azhar, editing by Louise Heavens)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CK HUTCHISON HOLDINGS LIMITED -0.20% 49.3 End-of-day quote.-8.87%
OOREDOO Q.P.S.C. 0.00% 6.852 End-of-day quote.-8.88%
PT INDOSAT TBK -0.96% 7775 End-of-day quote.53.96%
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Analyst Recommendations on CK HUTCHISON HOLDINGS LIMITED
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Financials
Sales 2021 400 B 51 318 M 51 318 M
Net income 2021 41 845 M 5 371 M 5 371 M
Net Debt 2021 134 B 17 239 M 17 239 M
P/E ratio 2021 4,71x
Yield 2021 5,84%
Capitalization 189 B 24 264 M 24 275 M
EV / Sales 2021 0,81x
EV / Sales 2022 0,72x
Nbr of Employees 172 907
Free-Float 69,4%
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Technical analysis trends CK HUTCHISON HOLDINGS LIMITED
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Mean consensus BUY
Number of Analysts 9
Last Close Price 49,30 HKD
Average target price 75,32 HKD
Spread / Average Target 52,8%
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Managers and Directors
Tzar Kuoi Li Chairman & Group Co-Managing Director
Kin Ning Fok Group Co-Managing Director & Executive Director
Frank John Sixt Group Finance Director & Executive Director
Yick Ming Wong Independent Non-Executive Director
Hoi Chuen Cheng Independent Non-Executive Director
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