Protelindo buys Axiata towers in $267m deal

The Indonesian telecom infrastructure company agreed to buy and lease back the towers of AXL Axiata, amid broader signs of industry consolidation.

Indonesian telecoms company XL Axiata sold its towers business to Profesional Telekomunikasi Indonesia (Protelindo) for Rp3.57 trillion ($267.2 million) on Monday, as the country’s fragmented towers sector continues to consolidate.

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