Indosat Ooredoo sells 4,200 towers for $750 million

Indosat Ooredoo has agreed to sell more than 4,200 telecom towers to EdgePoint Indonesia in a transaction valued at $750 million.
Edge Point is wholly owned by Digital Colony, a global digital infrastructure investor with extensive experience owning and operating cellular towers.

The sale is part of Indosat Ooredoo’s turnaround strategy, which has refocused the business on digital products and services and sought to create optimal value from its infrastructure. Monetizing its quality portfolio of telecom towers is a key pillar of Indosat Ooredoo’s current strategy.

“The deal marks the third and final sale of assets from Indosat Ooredoo’s tower portfolio that moves us towards a more asset-light model and focus on delivering outstanding mobile digital services to our customer,” Ahmad Al-Neama, chief executive officer of Indosat Ooredoo, said.

Indosat Ooredoo will lease back space on the towers for a period of 10-years to meet its ongoing requirements.

Suresh Sidhu, CEO of Edge Point Group, said: “This deal is one of the largest of its kind in Asia and cements our position as a leading tower provider in Indonesia.”