Indosat to offload stake in tower firm

18 Mar 2014

The Indonesian wireless operator Indosat has confirmed that it is to sell its 5% stake in mobile network firm Tower Bersama Infrastructure (TBIG). Indosat inherited the stake in 2012 as part of a wider USD406 million deal to sell and lease back 2,500 towers to TBIG. The cellco is looking to raise INR1.39 billion (USD122 million) from the sale. As reported by CommsUpdate last month, Indosat is also looking at selling its remaining 8,000 or so mobile towers, or spinning them off into a separate infrastructure subsidiary, so that it can concentrate on its core mobile services business.

Indonesia, Indosat Ooredoo (incl. IM2)