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Telkom Indonesia Looking at Merger of Tower Assets with Listed Company

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Indonesian mobile network operator, PT Telekomunikasi Indonesia is reported to be mulling an option that could lead to the merger of its towers division, Mitratel with another listed tower network operator.

The merger would create the country and the regions largest tower network operator.

Citing sources, Telkom Indonesia is considering four firms that are listed on the stock market as potential merger partners, but has not begun formal talks with them.

"The plan is to unlock the value of Mitratel, which could be via a merger with listed telecom firms or an IPO," Indra Utoyo, a Telkom director told Reuters.

Telkom has hired Barclays Capital to advise on the plan, Utoyo added.

Tower transactions are proving popular in the country at the moment. Just last month, Hutchison Telecommunications (Three) sold 300 towers to PT Solusi Tunas Pratama for an undisclosed amount.

Meanwhile, Axis Telecom is said to be looking to raise around USD300 million from the sale of 1,600 of its towers.

On the web: Reuters

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Tags: telkom indonesia  Indonesia