Telkom Indonesia may seek to sell off up to 49% of its tower subsidiary Dayamitra Telekomunikasi (Mitratel), and Tower Bersama is interested in buying.
Telkom is considering either spinning off Mitratel through an IPO, or pursuing a sale to or merger with a listed cower company, president director Arief Yahya toldthe Jakarta Globe.
Either scenario would involve hiving off operational management of the towers, but Telkom would seek to maintain a majority stake.
Mitratel currently manages around 3,000 towers, and is taking over operation of around 14,000 towers owned by Telkom's 65%-owned mobile subsidiary Telkomsel.
Tower Bersama's managing director told the Globe he had appointed UBS to advise on a possible stock acquisition, and said the company is “very interested in Mitratel.”
Independent tower operator Tower Bersama last year bought 2,500 towers operated by Telkom rival Indosat in a deal worth around $400 million in cash and stock.
Telkom's advisor for the divestment, Barclays Capital, has reportedly also approached other listed tower companies including Sarana Menara Nusantara and Tunas Solutions Pratama to gage their interest in Mitratel's tower operations.