Indosat, an Indonesian telecoms and satellite operator, has sold its 5% stake in Tower Bersama for Rp1.39trn (US$123m) via an accelerated book-built offering.
Merrill Lynch acted as the sole placement agent while CLSA Singapore was the co-lead manager….
Indosat, an Indonesian telecoms and satellite operator, has sold its 5% stake in Tower Bersama for Rp1.39trn (US$123m) via an accelerated book-built offering.
Merrill Lynch acted as the sole placement agent while CLSA Singapore was the co-lead manager. The transaction closed today.
Indosat acquired a 5% interested in Bersama in return for selling some of about 2,500 towers, valued at US$519m, to the company in 2012.
In an interview with TelecomFinance in January, Indosat CEO Alexander Rusli said his company could decide to either sell or keep the stake. He added that “the only consideration is what will benefit us the most”.
Separately, Rusli also said he was studying options for Indosat’s remaining 7,500 towers. He did not specifically refer to a sale but noted that “there are plans to further unlock their value”.
