Indosat underway to sell 4,000 towers

Indonesia's second largest cellular operator by subscribers PT Indosat Tbk (ISAT) is underway to put on sale of 4,000 telecommunication towers with valuation of US$500 million.

Several potential buyers such as PT Tower Bersama Infrastructure Tbk (TBIG), PT Solusi Tunas Pratama, and PT Sarana Menara Nusantara Tbk (TOWR).

"We can't inform the transaction. We will announce it once there is decision," said Indosat Corporate Secretary Strasfiatri Auliana as reported by Kontan on Saturday.

Helmy Yusman Santoso, CFO of Tower Bersama, did not respond confirmation about the transaction as well. However, previously Helmy said Tower Bersama is serious to consider the take over of Indosat's 4,000 towers.

Disclosure: No position at the stock mentioned above.

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