Indosat Ooredoo in talks to sell tower assets to Protelindo/Telkom, report says

19 Aug 2019

An unconfirmed report from Dealstreetasia.com says that Indonesian mobile network operator (MNO) Indosat Ooredoo has entered into talks with PT Profesional Telekomunikasi Indonesia (Protelindo), a subsidiary of PT Sarana Menara Nusantara, and domestic PTO Telkom Indonesia, concerning the possible sale of some of its telecom assets. According to three unnamed sources with knowledge of the situation, as quoted: ‘Protelindo, which is supported by Djarum Group, together with the state-owned Telkom Group, has shown an interest in acquiring some telecommunication tower assets from Indosat.’

As previously reported by TeleGeography’s CommsUpdate, last month Indosat Ooredoo opened talks to sell 3,000 telecom tower assets with an estimated value of USD300 million. According to unnamed people familiar with the situation, the telco is working with JP Morgan as the sell-side advisor on the process, noting that the valuation of the assets on the table assume an average value of between USD100,000 and USD200,000 for each tower. While Indosat said it had received interest for potential buyers – domestic and foreign – the list of shortlisted bidders is being kept private ahead of any decision.