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STC Indonesian subsidiary plans tower sale
- Saudi Arabia: Sunday, December 16 - 2012 at 01:32
PT Axis Telekom Indonesia, controlled by Saudi Telecom Co (STC), is planning to sell 1,600 telecoms towers worth around $300m, Reuters has reported, citing three sources with direct knowledge to matter. The Indonesian unit of the Gulf's biggest telecoms operator is in talks with PT Tower Bersama Infrastructure and PT Sarana Menara Nusantara, which are bidding for the towers, the sources said. Proceeds from the sale will be used for debt refinancing and investment, they said.
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