IBS Owner Weighs Options for Majority Stake in Indonesian Tower Firm
- Bakti Taruna is working with adviser on strategic review
- Controlling shareholder seeking up to $700 million valuation
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The owner of PT Inti Bangun Sejahtera is exploring options for their controlling stake in the Jakarta-listed telecommunication tower company amid strong demand for digital infrastructure in Southeast Asia, according to people with knowledge of the matter.
PT Bakti Taruna Sejati, an investment vehicle controlled by IBS President Commissioner Farida Bau, is working with an adviser on a strategic review of its 80% stake in IBS, the people said. Options under consideration include selling a partial stake and an outright exit, the people added.