Investment groups keen to buy 7,000 XL base stations

16 Sep 2008

Two investment companies, Saratoga Capital and Recapital, are said to be considering purchasing 7,000 base transceiver stations (BTSs) owned by Excelcomindo (XL), Indonesia’s third largest mobile company. AsiaPulse quotes an unconfirmed source as saying that a number of local and foreign banks are looking to finance the purchase which is likely to cost around USD550 million. It is understood Saratoga plans to set up a new consortium (called Indonusa) with Recapital to operate the BTSs which would be hired out to mobile operators such as XL. The President of XL, Hasnul Suhaimi, has confirmed that Saratoga is one of the bidders but said the winner of the tender is yet to be announced.

Indonesia, XL Axiata