Under the agreement, Mitratel will acquire from Telkomsel 6,050 telecommunication towers for IDR10.3 trillion ($950 million). Following completion of the acquisition, Mitratel will lease the towers to Telkomsel under a 10-year lease arrangement.
DBS Group Research is reiterating its “buy” call on Singtel with a target price of $2.69 following its 35%-owned joint venture company (JVCo), Telkomsel, entering into a sale-and-leaseback agreement with PT Dayamitra Telekomunikasi (Mitratel).
