What's Behind Indosat's Towers Sale to Mitratel?

By Editorial Team 16/02/2023
telecommunication towers
Summary

PT Indosat Ooredoo Hutchison Tbk (ISAT) signed a conditional sales agreement on Wednesday to sell 1,630 telecommunications towers to PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel and PT dhost Telekomunikasi Nusantara or dhost. Of the towers sold, 997 will be sold to Mitratel and 633 to dhost.

In addition, Indosat will lease back 1,527 telecommunication towers for the next ten years, with 983 leased from Mitratel and 544 from dhost. BofA Securities is acting as IOH's exclusive financial advisor on this transaction. Indosat Ooredoo Hutchison President Director Vikram Sinha expects the transaction to be completed in the first quarter of this year. "We believe it will positively impact the development of the telecommunications industry and the growth of the digital economy," he said.

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