JAKARTA (TheInsiderStories) - PT Profesional Telekomunikasi Indonesia (Protelindo), an affiliated provider of Djarum Group, completed the acquisition of a telecommunications tower of telco operator, PT XL Axiata Tbk (IDX: EXCL), said the management on Monday (11/23). The acquisition values about Rp2.21 trillion (US$156.37 million).
The corporate secretary, Ranty Astari Rachman, said the company has transfered 1,642 towers to the subsidiary of PT Sarana Menara Nusantara Tbk. (IDX: TOWR) on Friday. In February, the unit of Malaysia’ Axiata Bhd announced had sold 2,782 towers with total valued Rp4.05 trillion to Protelindo and PT Centratama Menara Indonesia to refinance the debt.
The management XL Axiata, said the tender of towers sale has begun since Nov. 5, 2019. The provider began seeking buyers for its 4,400 towers in September 2019 in an effort to reduce debt and raise funds for network investment.
In 2014, the operator had sold 3,500 towers to PT Solusi Tunas Pratama Tbk (IDX: SUPR) for Rp5.6 trillion and in 2017 unloaded 2,500 towers to Portland for Rp3.6 trillion.
While, Protelindo is the owner and operator of the largest independent telecommunication tower in Indonesia. The company’ largest subsidiary, iForte owns and operates fiber optic cable and VSAT infrastructure.
The provider was founded in 2003 and operates 20,914 towers across the archipelago, totaling 36,778 total rental locations, 3,693 VSAT and more than 35,000 Fiber Optic Cables throughout Indonesia. Since 2008, Protelindo’ shares of 99.99 percent have been owned by Sarana Menara Nusantara.
All business activities and business operations of its parent are carried out through Protelindo. On March 8, 2010, the holding firm completed its initial public offering of shares and listed on the Indonesia Stock Exchange.
Last year, the company and PT Dayamitra Telekomunikasi (Mitratel), unit of state-owned telco provider, PT Telkom Indonesia Tbk (IDX: TLKM), acquired 3,100 towers owned by cellular company, PT Indosat Tbk (IDX: ISAT). The sales value of the tower reached Rp6.39 trillion.
Mitratel has signed a sales purchase agreement with Indosat on Oct 14, 2019, as the winner of 2,100 towers with a value of Rp4.44 trillion. While, Protelindo won the auction of 1,000 towers with a value of Rp1.95 trillion.
After the transaction, the third parties signed a master tower lease agreement. The new owners agreed to lease back the tower to Indosat. The unit of Qatar’ Ooredoo Group to lease 178 plots of land owned by Protelindo, and 369 plots of land owns by Mitratel. The tenancy period is also valid for 10 years.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
