Etisalat Group Sells 775 million shares in PT XL AxiataTbk

Abu Dhabi: The Emirates Telecommunications Corporation (Etisalat), headquarters in Abu Dhabi confirmed today that it has sold a total of 775 million shares in PT XL AxiataTbk (“XL”), one of the Group’s 16 Operating Companies, and located in Indonesia.

The 775 million shares represent a total of 9.1% of XL’s issued share capital, representing a value of approximately AED 1.87 billion before commission and expenses. The settlement of the Placing is expected to take place on 18 September, 2012.

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