Indosat denies it is in talks over Hutchison 3 Indonesia takeover

5 Feb 2015

With rumours circulating that PT Indosat may launch a takeover bid for fellow service provider PT Hutchison 3 Indonesia, part of Hong Kong’s Hutchison Whampoa, its CEO Alexander Rusli has denied that it has held any talks to acquire the rival operator. Yesterday, CommsUpdate reported that in response to a question posed by the Indonesian stock exchange, Indosat said it could not comment on a local media reports that it was considering an IDR5 trillion (USD395.3 million) buyout. The article published in Indonesia Finance Today on 30 January, claimed that Indosat – 65%-owned by Qatar’s Ooredoo – was 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. However, in a text message to Reuters last night, Rusli said: ‘I can confirm 100% that there has never been such a discussion. I don’t know where the gossip started.’

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