PT Profesional Telekomunikasi Indonesia (Protelindo) has completed the acquisition of 1,000 towers from PT Indosat Tbk (Indosat Ooredoo), with nearly 1,900 tenancies. The largest tenancies are from Indosat Ooredoo, PT Telekomunikasi Selular (Telkomsel), H3i and PT XL Axiata Tbk, with Indosat Ooredoo serving as the anchor tenant on all 1,000 towers based on a 10-year leaseback agreement. Payment for the acquisition, valued at IDR 1.95 trillion, was made from a combination of cash on hand and additional debt. Indosat Ooredoo had announced the sale of 3,100 telecom towers to two Indonesian companies for IDR 6.39 trillion (about $456 million). PT Dayamitra Telekomunikasi (Mitratel) will buy 2,100 towers while Protelindo has agreed to purchase the remaining 1,000 towers.
