Indonesia's Indosat Signs $118 mln Telco Assets Deal with Mitratel

TELECOMMUNICATION - SINGAPORE/JAKARTA. Indonesia's Indosat Ooredoo Hutchison agreed a sale and lease deal involving 1,630 telecom sites with PT Dayamitra Telekomunikasi, or Mitratel, in a deal worth a total of 1.787 trillion rupiah ($117.8 million), Mitratel said in stock filing late on Wednesday.

The deal includes 997 telecom towers, according to the announcement. Indosat Ooredoo Hutchison is also selling 633 in-building coverage sites worth 480 billion rupiah to PT dhost Telekomunikasi Nusantara, according to a statement by Indosat.

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BofA Securities is the financial adviser to Indosat Ooredoo Hutchison on the deal, which is expected to close in March.

Southeast Asian nations such as Indonesia, Malaysia and the Philippines have seen a slew of telecommunication asset deals in recent years as cellular carriers shed their assets to focus on their core businesses. ($1 = 15,175.0000 rupiah)