Indonesia-based Telkomsel closed another tower sale with Dayamitra Telekomunikasi (Mitratel), selling 4,000 units for IDR6.2 trillion ($434.8 million) and agreeing a ten-year lease back.
The deal increases Mitratel’s tower holdings to 28,000 sites across Indonesia. It is 100 per cent owned by Telkom Indonesia, which also holds 65 per cent of Telkomsel, with Singtel holding the remaining 35 per cent stake.
In a statement, Telkom Indonesia director of strategic portfolio Budi Setyawan Wijaya explained the sale is an initiative to reorganise its portfolio for “optimum value creation of both companies”.
Singtel seperately stated the transaction will allow Telkomsel to optimise its capital structure as it focuses on its core business of providing digital connectivity services.
Mitratel CEO Theodorus Ardi Hartoko noted the deal opens the door to more tenants at a time when 5G is creating opportunities for the company.
Telkomsel sold 6,050 towers to Mitratel for $950 million in 2020.Subscribe to our daily newsletter Back