Hutchison Telecom has agreed a sale-leaseback for its mobile towers in Indonesia. The company Protelindo, which already operates over 900 towers in Indonesia, has agreed to pay USD 500 million for up to 3,692 towers from HCPT, a 60 percent subsidiary of Hutchison Telecom. The partners also agreed for Hutch to lease back the infrastructure and give first rights to Protelindo for any future towers built. Hutchison said it expects to realise a one-time gain of USD 236 million on the transaction as well as significant operating cost savings going forward. Completion of the sale is expected to occur in tranches over the next two years, as network construction is completed.




Source:Telecompaper