Indonesia's XL Axiata sells its telco towers for US$267m

[JAKARTA] Indonesian telecommunication provider PT XL Axiata said on Tuesday it has signed an agreement to sell 2,500 units of its telco towers for 3.57 trillion rupiah (S$365.5 million) to PT Profesional Telekomunikasi Indonesia (Protelindo).

XL Axiata also said in a stock exchange filing it had signed a deal with Protelindo, a unit of PT Sarana Menara Nusantara Tbk , to rent 2,432 of the towers as the anchor tenants for 10 years. The deal is expected to be concluded by June 30.

REUTERS