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Indosat Ooredoo Signs Deal to Sell 3,100 Towers for $450 million

Indosat Ooredoo Signs Deal to Sell 3,100 Towers for $450 million Image Credit: EvgeniiAnd/Bigstockphoto.com

Indosat Ooredoo, a leading digital telco in Indonesia has signed an agreements to sell 3,100 telecommunications towers to two local companies PT Daya partner Telekomunikasi (Mitratel) and PT Professional Telekomunikasi Indonesia (Protelindo).

Mitratel has been awarded 2,100 towers and Protelindo has been awarded 1,000 with a total transaction amount of IDR 6.39 trillion approx. $450 million million. The respective transaction considerations are all in cash to be paid fully at closing. Indosat Ooredoo will simultaneously enter into a 10 year lease with each buyer for space on the sale towers at transaction closing.

Sheikh Sauod bin Nasser Al Thani, Group CEO, Ooredoo
Two of Indonesia’s leading tower providers will lease these high quality tower portfolios back to Indosat Ooredoo on attractive terms. Monetising some non-core assets at a fair valuation will allow Indosat Ooredoo to unlock value of a portion of their tower business in order to speed up the execution of their strategy.

Author

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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