Indosat selling stake in Tower Bersama

Dylan Bushell-Embling
18 Mar 2014
00:00

Indonesia's PT Indosat plans to sell its stake in tower operator Tower Bersama Infrastructure for up to 1.39 trillion rupiah ($123.7 million).

The company is selling the shares to institutional investors, in transactions expected to be complete by tomorrow, the Jakarta Globereported.

Indosat acquired a 5% stake in Tower Bersama when it sold 2,500 of its mobile towers to the tower company in 2012. Tower Bersama paid $333 million in cash and 239.8 million in shares for the acquisition.

Indosat reportedly plans to use the proceeds of the sale to help finance its capex for 2014, which it expects to reach as high as 9 trillion rupiah.

In other APAC infrastructure company news, India's Viom Networks has clinched a deal to provide access to its network of over 42,000 telecom towers to Reliance Jio Infocomm, the only company with licenses to provide pan-India 4G services.

This marks the latest in a line of infrastructure sharing agreements for Reliance Jio. The company recently arranged to make use of Bharti Infratel's tower assets, and also has tower sharing and fiber sharing deals with Reliance Communications.

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