Indosat tight-lipped on rumour it may buy Hutchison 3 Indonesia

4 Feb 2015

Indonesian telecoms operator PT Indosat has declined to comment on speculation that it is planning to launch a takeover bid for fellow service provider PT Hutchison 3 Indonesia, part of Hong Kong’s Hutchison Whampoa. In response to a question posed by the Indonesian stock exchange, Indosat said it could not comment on a local media report in Indonesia Finance Today from 30 January, that it was considering an IDR5 trillion (USD395.3 million) buyout. The article claimed that Indosat, 65%-owned by Qatar’s Ooredoo, is keen to acquire smaller rival Hutchison 3 Indonesia in a deal that would create a new number two in one of Asia’s largest mobile markets. A merger of Indosat’s 54 million mobile users and Hutch’s 37 million subscriber base would allow the enlarged entity to leapfrog current number two, Axiata, in the local market.

Indonesia, Hutchison 3 Indonesia (Tri), Indosat Ooredoo (incl. IM2), Ooredoo Group