Bloomberg News

Tower Bersama Said Close to Buying Indosat Cell-Phone Towers

November 15, 2011

Nov. 15 (Bloomberg) -- PT Tower Bersama Infrastructure is in final talks to buy cellular towers from PT Indosat, Indonesia’s largest mobile-phone carrier, for as much as $500 million, said three people with knowledge of the matter.

An agreement may come as early as today, said one of the people, who declined to be identified as the information is private.

Indosat, based in Jakarta, plans to sell about 4,000 cellular towers and has drawn interest from Tower Bersama, PT Solusi Tunas Pratama and PT Sarana Menara Nusantara, people with knowledge of the matter said in September.

Indosat said in an April filing with the Securities and Exchange Commission that it was “considering various options” for the tower business, which accounted for about 20 percent of revenue at its mobile-phone unit in the first half.

Helmy Yusman Santoso, a director at Jakarta-based PT Tower Bersama, declined to comment. “There has been no progress yet, said Fadzri Sentosa, a director at Indosat, in an interview. “We’re still exploring all the options.”

--Editor: Philip Lagerkranser

To contact the reporters on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net; Cathy Chan in Hong Kong at kchan14@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net


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