Nov 15, 2011

Tower Bersama, Indosat in talks for tower

PT Tower Bersama Infrastructure Tbk (TBIG) finally enters into non binding agreement with PT Indosat Tbk (ISAT) in a bid to buy telecommunication towers.
Indosat, in a disclosure announcement filed to Indonesia Stock Exchange today, said non binding agreement does not provide any assurance that the deal could be proceeded.
Indonesia's second largest cellular operator by subscribers, Indosat, is planning to sell 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).

Disclosure: No position at the stock mentioned above.
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