MTEL - Plans to acquire 2,600 towers

Dayamitra Telekomunikasi (MTEL) is eyeing to acquire 2,600 towers owned by affiliated company, Telekomunikasi Selular (Telkomsel). The plan is following previous acquisitons of Indosat Ooredoo Hutchison (ISAT) towers as part of its growth strategy. (Source : Investor Daily) Comment: Amid consolidation in towercos, MTEL is in od position to continue its inorganic expansion thanks to its affiliation with Telkomsel, which still operates its own towers under its belt. In addition, MTEL is seen to be well protected against interest hike headwinds and strong USD thanks to its robust cash and low gearing ratio.