Indonesia’s second largest telecoms group by subscribers and revenue, PT Indosat, has sold a total of 2,500 telecommunications towers to PT Tower Bersama Infrastructure, the telco confirmed yesterday. Under the terms of the USD519 million deal, Reuters reports that Tower Bersama will lease back the towers to the cellco as its ‘anchor tenant’ for at least ten years. The agreement marks the first major telecoms deal since the Jakarta government placed restrictions on foreign firms owning a stake in a tower company in 2010. Indosat, which is controlled by Qatar Telecom, is expected to take a minimum 5% stake in Tower Bersama in newly issued shares as part of the overall deal, which is primarily designed to help it pay off debt and focus on its core business going forward. The transaction is likely to be completed by mid-2012 and will see the tower firm paying USD406 million upfront through a mix of cash and the aforementioned shares, and USD113 million in a later payment. Tower Bersama beat off several other bidders, including Solusi Tunas Pratama and Sarana Menara Nusantara, to secure the deal with the operator.