TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
XL to sell telecom towers to pay debts
The countryâs second-largest cellular operator, PT XL Axiata, is preparing to sell some of its telecommunication towers to partly finance its debts
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
T
he country's second-largest cellular operator, PT XL Axiata, is preparing to sell some of its telecommunication towers to partly finance its debts.
The company was finalizing the bidding process on the towers, which opened in July, to ensure transparency and fairness in the sales, XL Axiata vice president of corporate communications, Turina Farouk, said.
'We hope the tender will be completed by the end of this year,' she said as quoted by kontan.co.id on Saturday.
In February, XL Axiata president director Hasnul Suhaimi said the firm would sell a number of its towers to pay back the US$865 million used to acquire PT Axis Telekom Indonesia in March.
The firm has officially invited bidders to buy for some of its towers, which numbers 8,000 bidders in total. One of the bidders is telecommunications tower operator PT Tower Bersama Infrastructure, which has readied almost $1.8 billion for the acquisition.
The Axiata Group is a Malaysian telecommunications firm that holds a 66.5 percent stake in XL, while the public holds the remaining 33.5 percent.
