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CORRECTED-Indonesia's XL Axiata sells telco towers to Solusi Tunas for $460 mln
October 1, 2014 / 2:12 AM / 3 years ago

CORRECTED-Indonesia's XL Axiata sells telco towers to Solusi Tunas for $460 mln

(Corrects figure in headline to $460 mln)

JAKARTA, Oct 1 (Reuters) - Indonesia’s second-largest telecoms firm PT XL Axiata Tbk said it has agreed to sell 3,500 telecommunication towers to PT Solusi Tunas Pratama Tbk for 5.6 trillion rupiah ($460 million).

The deal is expected to be concluded by the end of the year, XL Axiata said in a statement.

The sale is aimed at paying off some of its debt after the company acquired telecommunication operator PT Axis Telekom for $865 million this year.

1 US dollar = 12,188 rupiah Reporting by Fransiska Nangoy; Editing by Edwina Gibbs

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