Unconfirmed reports suggest that Indonesia’s third largest mobile operator by subscribers PT Excelcomindo Pratama (Excelcom) plans to sell 7,000 of its base transceiver stations (BTSs) in a move that could raise up to IDR7 trillion (USD777 million). According to Asia Today, Excelcom has contracted Goldman Sachs as its sale arranger with the transaction expected to be completed in April 2008.
Last month, Excelcom said it was seeking to raise USD950 million through bonds and borrowing to repay existing debt and fund the continuing expansion of its wireless networks and services. The company said the move was vital in an intensely competitive mobile market. The plan was approved by shareholders on 25 November. Around USD350 million will be set aside for network expansion and the remainder will be used to reduce debt.