PT Tower Bersama Infrastructure is in final talks to buy cellular towers from PT Indosat, Indonesia’s largest mobile-phone carrier, for as much as $500 million, said three people with knowledge of the matter.
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PT Indosat, Indonesia’s second- largest mobile phone carrier, plans to sell about 4,000 cellular towers and has drawn interest from PT Tower Bersama Infrastructure, PT Solusi Tunas Pratama and PT Sarana Menara Nusantara, three people with knowledge of the matter said.
PT Indosat, Indonesia’s second- biggest mobile-phone operator by revenue, fell the most in four months in Jakarta trading after its rally since June triggered a technical indicator to signal the gains were excessive.
Shares of Indonesia’s second largest telephone operator PT Indosat fell in Jakarta trading after the company said March 8 its profit for 2009 dropped 20 percent to 1.5 trillion rupiah ($163 million) in 2008.