Indonesia’s XL closes $267m telco towers sale deal 

Telecommunication provider PT XL Axiata Tbk (EXCL) has closed an agreement to sell 2,500 units of its telco towers for Rp 3.57 trillion ($267.2 million) to PT Profesional Telekomunikasi Indonesia (Protelindo).

According to the agreement, Protelindo, which is also a unit of publicly listed PT Sarana Menara Nusantara Tbk (TOWR), will rent out about 2,433 tower units back to XL for a period of ten years. XL will then get a competitive price, which will allow the company to significantly cut operational cost.

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