Indosat sells 3,100 telecom towers to Mitratel and Protelindo for IDR6.39tn

16 Oct 2019

Mobile network operator (MNO) Indosat Ooredoo has agreed to divest 3,100 telecoms towers to fellow Indonesian companies Daya Partner Telekomunikasi (Mitratel) and Professional Telekomunikasi Indonesia (Protelindo) for a total consideration of IDR6.39 trillion (USD450 million). Indosat confirmed the signing of the sale and purchase agreement this week that will see Mitratel acquire 2,100 towers, while Protelindo will buy the remaining 1,000 in an all-cash deal – subject to shareholder approval at an extraordinary general shareholders meeting to be held next month. On completion of the transaction, the MNO will lease back the towers for 20 years from the two tower operators. ‘This transaction allows Indosat Ooredoo to accelerate the implementation of our strategy, and especially to continue to ensure the best experience for our customers,’ said Indosat Ooredoo’s president director and CEO Ahmad Al Neama.

Indonesia, Indosat Ooredoo (incl. IM2)