PETALING JAYA: Axiata Group Bhd’s Indonesian unit, PT XL Axiata Tbk, has picked PT Solusi Tunas Pratama Tbk (STP) over 14 others to sell a portion of its towers in a deal worth US$460mil (RM1.5bil), or 5.6 trillion rupiah, cash.
XL Axiata is selling 3,500 of its 8,000 towers in a deal signed yesterday. There are no immediate plans to sell more towers, however.
“We have not taken any decision with regard to the remaining towers,” XL Axiata vice-president of corporate communications Turina Farouk said from Jakarta in replies to queries from StarBiz.
Earlier, XL Axiata had been contemplating a flotation exercise of its tower business, but later opted to sell a portion of the towers to raise cash to pare down debts that had increased after it bought PT Axis Telekom Indonesia in March for US$865mil (RM2.82bil).
Sources said that of the 15 interested bidders for the towers, only STP was prepared to see through the process.
Axiata Group Berhad is one of the largest telecommunications groups in Asia with over 250 million customers. Axiata’s vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia.