Indosat Looking to Sell Stake in Tower Management Company
Published on: 28th Dec 2013
By: Ian Mansfield
Indonesian telco Indosat could raise upwards of USD115 million from that sale of its 5 percent stake in the tower management company Tower Bersama Infrastructure.
The company's Stefan Carlsson, said that the company is looking to process the sale of the shares within the next six months, and is currently seeking a banking advisor for the disposal. The funds will be used to reduce the company debt.
The tower management company is listed on the local stock exchange, and the 5 percent stake is estimated to be worth between US$98 - USD115 million.
Indosat ended up with the 5 percent stake in the company after it sold 2,500 towers to the company in August 2012. It received USD333 million in cash, and a stake in the company that was valued at USD73 million at the time.