Indosat launches tower sale; aims to raise USD500m

24 Jun 2011

Indonesia’s second largest mobile operator by subscribers PT Indosat has initiated the sale of 4,000 telecommunications towers it owns in the country, with a view to raising more than USD500 million. Reuters cites unnamed sources with knowledge of the situation as saying that the telco has invited a number of companies such as Profesional Telekomunikasi Indonesia, Tower Bersama Infrastructure and Solusi Tunas Pratama to assess information on the towers with a view to submitting a bid. It is understood that Indosat does not intend to offer the towers to rival cellcos Telkomsel and XL Axiata, but bids are due by late-June.

Indonesia, Indosat Ooredoo Hutchison (IOH)