Shareholders of PT Bakrie Telecom, which operates the CDMA brand Esia, have given the all clear for the company’s plan to sell 543 telecommunication towers, to be used partly to help finance its expansion for next year. “We hope to gain Rp 380.22 billion (US$34 million) from the sale,” president director Anindya Bakrie said after a shareholder meeting Tuesday.
Six tower providers — Solusi Tunas Pratama, Tower Bersama, Protelindo, Retower, Padi Mekatel and Powertel — have indicated their interest in the offer, Anindya said. Anindya said the towers were being sold to boost the company’s operational efficiency and to achieve its target of $200 million in capital expenditure for next year.
Bakrie Telecom has said it plans to spend $600 million in capital expenditure between 2008 and 2010. By the end of this year, the company will have spent $238 million for capital expenditure, partly coming from the Rp 3 trillion it secured from a rights issue earlier this year. // more
