| Kippreport.com

Qatar Telecom Unit Agrees $406 Mln Tower Deal With Tower Bersama

August 5, 2012 3:53 by Reuters

The deal, which covers 2,500 towers, will be financed using cash and newly-issued shares worth 5 percent of TBIG’s enlarged share capital, the statement said.

 

Proceeds from the sale will be used to repay outstanding debt and to finance investment and other general corporate purposes at Indosat.

 

Shareholders of TBIG, as well as bondholders and lenders of Indosat, have assented to the transaction. (Reporting by David French; Editing by Praveen Menon)