Ownership change in Indonesian tower industry to continue as three major towercos strengthen their dominance

Moody’s compares the debt profiles of Protelindo, TBI and STP and the implications for future transactions

Read this article to learn:

  • A comparison of the debt profiles of Indonesia’s leading towercos, Protelindo, TBI and STP
  • How those divergent financial profiles affect their ability to make large, debt funded acquisitions
  • The impact of TBI and STP’s recent acquisitions of Mitratel and from XL Axiata respectively
  • An illustration of the importance of counterparty risk, using Indonesia’s Big Four telecom operators as an example

Ownership changes in the Indonesian telecommunications tower sector will continue over the medium term – carrying over the trend of recent years – as the industry is at an inflection point with leading telecom operators looking to monetise additional tower assets over the next 12-18 months. This trend, which is further indicative of a significant…

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