Singapore Telecommunications (Singtel) announced on Oct 16 that its joint venture company, PT Telekomunikasi Selular (Telkomsel), which it has a 35% stake in, has entered into a sale and purchase agreement for the sale of 6,050 telecommunication towers to PT Dayamitra Telekomunikasi (Mitratel) for IDR10.3 trillion ($950 million).
See also: Singtel's Chua Sock Koong to retire; Yuen Kuan Moon to succeed as Group CEO
Under the agreement, Telkomsel has also entered into a 10-year lease arrangement with Mitratel for rental of tower space, which will take effect from the transfer of the respective towers to Mitratel.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)