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Qatar Telecom unit agrees $406m deal with Tower Bersama
- Qatar: Monday, August 06 - 2012 at 12:15
Qtel has announced its unit, Indosat has concluded a sale and leaseback agreement worth $406m with Tower Bersama Infrastructure (TBIG), Reuters has reported. The deal, which covers 2,500 towers, will be financed using cash and newly-issued shares worth 5% of TBIG's enlarged share capital, Qtel said. Proceeds from the sale will be used to repay outstanding debt and to finance investment and other general corporate purposes at Indosat, the Doha-based firm added.
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