(Yicai Global) Sep. 17 -- CK Hutchison and Qatar’s largest carrier Ooredoo Group are merging their Indonesian mobile operators in a deal worth USD6 billion to form the second largest carrier in the south-east Asian country, the Hong Kong conglomerate said yesterday.

The joint venture PT Indosat Ooredoo Hutchison will be created from the merger of PT Hutchison 3 Indonesia and PT Indosat Ooredoo with an estimated annual revenue of USD3 billion, it added. The transaction is expected to be completed by the end of the year, pending regulatory approval.

CK Hutchison, founded by the late billionaire Li Ka-shing, will also take a 50 percent stake in Doha-based Ooredoo’s Asia arm as part of the deal. Ooredoo Asia will be renamed Ooredoo Hutchison Asia and retain a 65.6 percent stake. The Indonesian government holds 9.6 percent equity in the firm.

PT Indosat Ooredoo has been in business since 1967 and had 60 million customers as of the first quarter this year. PT Hutchison 3 has been operating in the country since 2007.

Editor: Kim Taylor