Publicly listed PT Indosat, Indonesia’s third-largest telecommunications firm, recently sealed a deal to sell more than 4,200 towers worth US$750 million in raising capital to expand its internet network in the country. Indosat sold the towers to Edge Point Indonesia, a subsidiary of Edge Point Singapore, which won a tender. The transaction is expected to close in the second quarter of this year, awaiting Indosat shareholders’ approval during a meeting slated for May 6. Indosat would lease back the towers for 10 years to meet its own operational requirements. Indosat, which owns the Indosat Oreedoo brand, needs the capital to install fiber optic cables and add base transceiver stations (BTS) to expand its 4G network in Indonesia. The company allocated Rp 8 trillion in capital expenditure this year to install such infrastructure. “[Indosat’s sale] would pr...