PT.XL Axiata Tbk ('XL') was established on October 8, 1989 under the name PT Grahametropolitan Lestari. Its core business is in trading and general services. Six years later, the XL taking an important step by establishing partnerships with the Rajawali Group - a shareholder of PT Grahametropolitan Lestari - and three foreign investors (NYNEX, AIF and Mitsui).
Its name was changed to PT Excelcomindo Pratama, with the provision of basic telephony services as its core business.
XL started its commercial operation in 1996, mainly including Jakarta, Bandung and Surabaya area. This makes the XL in Indonesia's first private company to provide cellular phone service provider.
September 2005 represents a major milestone for the Company. Upsizing on all fronts, XL became a public company listed on the Jakarta Stock Exchange [now known as the Indonesia Stock Exchange (IDX)]. Currently, the majority of shares owned by XL Axiata Group Berhad ('Axiata') through Axiata Investment (Indonesia) Sdn Bhd (66.6%) and Emirates Telecommunications Corporation (Etisalat) via Etisalat International Indonesia Ltd. (13.3%).
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