October 15, 2019 / 5:01 AM / a month ago

Indonesia's Indosat in $450 million deal for sale of telco towers

FILE PHOTO: Workers adjust a Base Transceiver Station (BTS) on the building of PT Indosat in Jakarta May 7, 2010. REUTERS/Crack Palinggi/File Photo

JAKARTA (Reuters) - PT Indosat (ISAT.JK), the Indonesian unit of Qatar’s Ooredoo Group, said on Tuesday it has signed a 6.4 trillion rupiah ($452.30 million) deal to sell 3,100 telecommunication towers, which will be leased back.

Indosat said in a statement 2,100 units of towers will be sold to PT Dayamitra Telekomunikasi (Mitratel) and one thousand units will be sold to PT Profesional Telekomunikasi Indonesia (Protelindo).

The company aims to close the sales, which will be paid in cash, before the end of the year, the statement said.

Reporting by Bernadette Christina Munthe; Writing by Fransiska Nangoy; Editing by Muralikumar Anantharaman

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