Copying and distributing are prohibited without permission of the publisher
Indonesia’s XL Axiata scraps tower sale
02 April 2012
Operator XL Axiata cancels disposal of mobile towers due to lack of interest
Read more:
XL Axiata
tower sale
passive infrastructure
XL Axiata is scrapping
plans to sell its mobile towers because of a lack of interest, reports
BorneoPost Online, citing Hasnul Suhaimithe, president director of the
Indonesian operator. XL Axiata planned to sell 7,000 towers to raise 14
trillion Indonesian rupiah ($1.5 billion), and had selected Goldman Sachs as an
advisor for the transaction.
OSK Research said in a
research report: “We are not surprised that XL has cancelled plans to sell its
towers as it is not aggressively looking for buyers and will only consider such
a move if the price is attractive enough.”
XL Axiata proposed
monetisation of its towers in 2008, but cancelled the deal citing the global
recession and buyers’ inability to secure funds, said the report. UAE operator
Etisalat is said to be considering selling its 13.29% stake in XL Axiata – a
subsidiary of the Axiata Group – for $600-$700 million. GTB