Excelcomindo tower sale hits rocky water

Excelcomindo’s proposed USD800 million-plus auction of a number of mobile phone towers is looking less certain after private equity firms interested in snapping up the assets expressed concern over the country’s new foreign ownership rules and the mixed messages coming from the operator. Reuters reports sources familiar with the situation as saying that private equity firms Affinity Equity Partners, Blackstone Group, Carlyle Group, Kohlberg Kravis Roberts & Co and TPG Capital were in the hunt for a slice of Excelcom’s tower business, but are now getting cold feet. [more, telegeography]