Telkom eyes transfer of Telkomsel towers to Mitratel

Aside from its planned divestment of shares in Patrakom and Citra Sari Makmur, Telkom’s President Director was quoted as saying that it plans to transfer some 9,000 towers currently owned by its subsidiary Telkomsel to another subsidiary Mitratel. First, it needs to get approval from Singtel, a 35% shareholder of Telkomsel for the transfer. This transaction is approximately worth US$1.2bn. Within three years upon transfer of the towers to Mitratel, Telkom plans spin off Mitratel via an IPO.