Ooredoo’s Indosat to sell tower assets to Digital Colony for $750m

Ooredoo QPSC’s Indonesian unit PT Indosat agreed to sell more than 4,200 towers to Digital Colony for $750 million, the latest acquisition by the company which is amassing telecom infrastructure across Asia.

Indosat said in a statement late Tuesday that it signed the sale and leaseback deal with EPID Menara AssetCo, a unit of Edgepoint Infrastructure in Indonesia that is fully owned by Digital Colony, confirming an earlier Bloomberg News report. The deal, which will require Indosat to lease the towers for 10 years, is expected to close in the second quarter.

The agreement comes weeks after Indosat said it was in the early stage of exploring the sale without naming any potential buyers. Digital infrastructure, including telecom towers, data centers and fiber, has become a hot spot for investments amid global technology rollouts.

Digital Colony has been an active player in the consolidation of telecom infrastructure in Asia and Edgepoint could amass 20,000 to 50,000 towers in the next five to seven years, a person familiar with the matter said in November.

Qatar’s Ooredoo, which owns a 65% stake in Indosat, said in December it was in talks with CK Hutchison Holdings Ltd. to combine their Indonesian wireless phone businesses as part of a consolidation to fend off competition in Southeast Asia’s biggest market by subscribers.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.