Indonesian telecom service providers PT XL Axiata Tbk, PT Smartfren Telecom Tbk, and PT Smart Telecom (SmartTel) have signed an agreement to merge into a new entity called PT XLSmart Telecom Sejahtera Tbk (XLSmart) at an enterprise valuation of 104 trillion rupiah ($6.5 billion), according to a statement on Wednesday.
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