Aug 10, 2011

TBIG completes Infratel take-over

Telecommunication tower prodicer PT Tower Bersama Infrastructure Tbk (TBIG) has completed a 100% stake acquisition of PT Mitrayasa Sarana Informasi (Infratel), an independent tower provider. 
Finance Director Tower Bersama Helmi Yusman Santoso said TBIG has spend Rp200 billion to buy Infratel, enabling the company to obtain additional 10% revenue every month.
"We have completed the acquisition, hence Infratel is becoming our wholly-owned subsidiary," he said in an official statement to Indonesia Stock Exchange.
Infratel manages 263 tower sires, 332 site shelter-only, and 672 tenants and order book. 

Disclosure: No position at the stock mentioned above.

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