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Indosat and 3 officially merge as one
PT Indosat obtained the approval to merge with Tri, also known as Hutchison 3 Indonesia.
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Hutchison 3 Indonesia, or Tri, has officially become a part of PT Indosat.
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T Indosat obtained the approval to merge with Tri, also known as Hutchison 3 Indonesia. The agreement was announced at the extraordinary general meeting (EGM) of shareholders on Tuesday.
The company published an official statement, saying that it had obtained an effective statement from the Financial Services Authority (OJK). The partnership will be beneficial for the two entities, as both are aiming for a bigger, stronger and more competitive digital telecommunications and internet market.
In addition to agreeing on the merger of Indosat and Tri, the EGM approved changes to the composition of the board of commissioners and board of directors of Indosat Ooredoo Hutchison. Former communications and information minister, Rudiantara, was also appointed as an independent commissioner, bringing the number of commissioners to 15.
The boards of directors and commissioners will be effective after the date of incorporation and the fulfillment of all requirements is approved by the relevant authorities. Halim Alamsyah will serve as president commissioner, with Canning Fok Kin Ning and Aziz Ahmad M. Aluthman Fakhroo as two deputy president commissioners.
Along with Rudiantara, there are also four independent commissioners; Hernando, Wijayanto Samirin, Elisa Lumbantoruan and Syed Maqbul Quader. The team will also consist of seven commissioners; Frank John Sixt, Cliff Woo Chiu Man, Patrick Walujo, Nigel Thomas Byrne, Rene Heinz Werner, Ahmad Abdulaziz A A Al Neama and Meirijal Nur.
Moreover, Vikram Sinha will serve as the company’s managing director, with Irsyad Sahroni as independent director. The three directors are Nicky Lee Chi Hung, Muhammas Danny Buldansyah and Armand Hemawan.
