Qatar's Ooredoo, CK Hutchison to merge Indonesian telecom units

Hong Kong's CK Hutchison and Qatar's Ooredoo have agreed to merge their Indonesian telecom units in a $6 billion deal, the two companies said on Thursday.

The merged entity will be the second largest mobile telecoms company in the country with an annual revenue of about $3 billion.

The deal will help the combined company to better compete against state-backed Telkomsel, which controls around half of the cellular market in the world's fourth most populous country.