Indonesian mobile network operator XL Axiata has scrapped plans to sell its telecoms towers according to the Borneo Post citing the company’s president director Hasnul Suhaimithe.
Suhaimithe reportedly cited a lack of interest. The company was…
Indonesian mobile network operator XL Axiata has scrapped plans to sell its telecoms towers according to the Borneo Post citing the company’s president director Hasnul Suhaimithe.
Suhaimithe reportedly cited a lack of interest. The company was unavailable for comment.
Plans for a tower sale had been in the offing since 2008.
In November last year, reports suggested that XL Axiata was looking to soon sell up to 8,500 towers in order to focus on its core businesses. Goldman Sachs had been hired to advise on a potential transaction.
At the time, individual towers were valued at between US$100,000 and US$140,000 a piece in the country.
Indonesia is home to many independent towercos, which have in recent months sought to monetise their tower assets, either via sales or IPOs.
Most recently, in February, Tower Bersama Infrastructure confirmed it would buy 2,500 towers from local telecom services provider Indosat in a deal valued at US$519m. Before that, in September, Tower Bersama finalised the purchase of local independent towerco Infratel for Rp200bn (US$23.5m).