Indonesia-based telecom company Indosat Ooredoo has initiated talks to sell 3,000 telecom tower assets. JP Morgan will be the sell-side adviser in the process. The total valuation of the transaction is expected to be more than $300 million. The company has already started receiving expressions of interest from potential buyers, both foreign and local. However, the shortlisted bidders are still unknown as the process has not entered the second round of negotiations. If talks fructify, Indosat Ooredoo is expected to conduct a sale-leaseback transaction for its telecom towers after the sale process is completed. The move will help the company reduce the cost in maintaining the telecom towers on its own.
