Singapore, October 06, 2014 -- On 1 October, PT XL Axiata (XL, Ba1 stable) said it had signed an agreement to sell 3,500, or approximately 35% of its telecommunications towers to PT Solusi Tunas Pratama Tbk. (STP, unrated), the third largest independent tower company in Indonesia by number of towers, for IDR5.6 trillion ($460 million). XL said it expects to complete the transaction by the end of 2014.

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