Middle East

Ooredoo extends exclusivity period with CK Hutchison on Indonesia deal

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DUBAI, April 28 (Reuters) - Qatari's Ooredoo (ORDS.QA) said on Wednesday it has extended the period of exclusivity for a memorandum of understanding with CK Hutchison Holdings Ltd (0001.HK) for a possible combination of their respective telecommunications businesses in Indonesia.

The period for the non-legally binding MOU to combine PT Indosat Tbk (ISAT.JK) 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 (TLKM.JK) which controls around half of the cellular market in the world's fourth most populous country.

Reporting by Saeed Azhar, editing by Louise Heavens

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