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Business deals

Indonesia's No. 2 telecom emerges in Qatar-Hong Kong deal

Ooredoo and CK Hutchison seek greater scale in nation of 195m mobile users

Commuters in Jakarta: Ooredoo and CK Hutchison seek greater scale for their Indonesia wireless carrier.   © Reuters

JAKARTA -- Qatari communications company Ooredoo and Hong Kong conglomerate CK Hutchison Holdings have agreed to merge their Indonesian telecom businesses in a deal to create the country's second-largest mobile network operator.

Both companies said in a statement Thursday they had signed "definitive transaction agreements for the proposed merger" of Indosat Ooredoo and Hutchison 3 Indonesia. The combined entity will have an estimated annual revenue of about $3 billion, they said.

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