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Indonesia's Axis Telekom Looking to Sell Tower Assets

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Indonesia's Axis Telekom is looking to raise around USD300 million from the sale of 1,600 of its base station towers, the Jakarta Globe reported, citing three sources.

The mobile network is said to be in talks with two local tower operators, Tower Bersama Infrastructure and Sarana Menara Nusantara who are both bidding for the sale.

"The discussion is ongoing and it is expected the transaction will be completed by the first half of next year," said one of the sources with knowledge of the plan, who declined to be identified because the talks were not public.

The source added that proceeds from the sale will be used for debt refinancing and investment.

Axis Telekom is majority owned by Saudi Arabia based Saudi Telecom.

On the web: Jakarta Globe

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Tags: axis telekom  Indonesia