Indonesian operator XL Axiata has called-off the proposed sale of its towers, following a “lack of interest,” according to a report in The Borneo Post.
The move was first reported in November 2011, when it was suggested that three local firms had expressed an interest in the infrastructure. Goldman Sachs was apparently appointed to advise on the transaction, which would have seen around 7,000 of the company’s 10,000 masts sold.
According to this week’s report, OSK Research said that it was not surprised the transaction had faltered, as XL was “not aggressively looking for buyers,” and would only consider a deal if the price was right. A figure of around US$1.5 billion has been mooted, by several sources.
XL had also proposed a sale of towers in 2008, but this deal was hamstrung by the global financial crisis.
In February, it was reported that rival Indonesian operator Indosat had sold 2,500 towers to infrastructure specialist PT Tower Bersama Infrastructure.
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