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Jakarta Post

Indosat Ooredoo sells 4,200 towers worth $750m to Edge Point 

  • Dzulfiqar Fathur Rahman

    The Jakarta Post

Jakarta   /   Thu, April 1, 2021   /  02:40 pm
The Jakarta Post Image
Technicians of Indonesian telecommunications company Indosat inspect an antenna tower in Central Jakarta on September 13, 2011. The Cellular Telecommunications Association of Indonesia projects a 6 to 7 percent industry growth this year, lower than last year's growth of around 10 percent, according to media reports.(AFP/Bay Ismoyo)

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...