Telkom seeks to offload up to 49% stake in Mitratel

25 Jul 2013

Telekomunikasi Indonesia (Telkom) is preparing to sell part of its tower unit Dayamitra Telekomunikasi (Mitratel) so that it can concentrate on its main business, the Jakarta Globe reports. As such, Telkom is keen to sell as much as a 49% stake in Mitratel, while retaining the majority share in the company. The news outlet suggests that Telkom is weighing up three options: the spin-off of Mitratel as a separate company via an initial public offering (IPO); a sale to another publicly listed tower operator; and a fully-fledged merger with a rival tower firm. Telkom has appointed Barclays Capital as its adviser for the plan. The bank is believed to have invited several listed tower operators — Sarana Menara Nusantara, Tower Bersama Infrastructure, Tunas Solutions Pratama, and Inti Build Sejahtera — to enter discussions over a possible tie-up.

Indonesia, Telkom Indonesia