XL Axiata to sell 2,500 towers to Protelindo

News Wireless Indonesia 29 MAR 2016
XL Axiata to sell 2,500 towers to Protelindo
Indonesian telecommunication provider XL Axiata entered into an agreement to sell 2,500 of its telecommunications towers for IDR 3.57 trillion (USD 267.22 million) to Profesional Telekomunikasi Indonesia (Protelindo), a unit of Sarana Menara Nusantara, according to Reuters. In a stock exchange filing, XL Axiata also said it rented 2,432 of its towers to Protelindo as the anchor tenants for 10 years. The deal is expected to be closed by 30 June.

Categories:

Mobile

Companies:

Telekomunikasi Indonesia,  Axiata,  XL Axiata,  Protelindo

Countries:

Indonesia

Tags:

Network equipment, M&A buyouts & divestments

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