ORDS announced that PT Indosat Tbk. has signed Sales and Purchase Agreements (SPAs) with each of PT. Dayamitra Telekomunikasi (Mitratel), and PT Profesional Telekomunikasi Indonesia (Protelindo), which have been declared the winning bidders of a competitive tender process for the sale by Indosat Ooredoo of 3,100 telecommunications towers.

The transactions are subject to customary closing conditions including shareholders' approval of the company's EGMS in November 21, 2019. Mitratel has been awarded 2,100 towers and Protelindo has been awarded 1,000 with a total transaction amount of IDR 6.39 trillion approx. QAR 1,644 million.

The respective transaction considerations are all in cash to be paid fully at closing. Closing of each transaction is anticipated to take place before the end of the year. Indosat Ooredoo will simultaneously enter into a 10 year lease with each buyer for space on the sale towers at transaction closing.