March 29, 2016 / 1:55 AM / 4 years ago

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

JAKARTA, March 29 (Reuters) - 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 ($267.22 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.

$1 = 13,360.0000 rupiah Reporting by Fransiska Nangoy; Editing by Stephen Coates

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