The owner of PT Inti Bangun Sejahtera Tbk (IDX:IBST) is close to selling a controlling stake in the telecom tower company to PT Profesional Telekomunikasi Indonesia, according to people with knowledge of the matter. PT Bakti Taruna Sejati, an investment vehicle controlled by IBS President Commissioner Farida Bau, is working out details of a sale and purchase agreement that may be wrapped up in the coming weeks, the people said, asking not to be identified as the process is private. Bakti Taruna owns about 80% of IBS, data compiled by Bloomberg show.

Considerations are ongoing and Bakti Taruna could decide to keep the assets, the people said.  A representative for IBS didn?t respond to requests for comment, while calls to Bakti Taruna?s office went unanswered. A representative for Protelindo declined to comment.