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Jakarta Post

XL Axiata sells towers to improve efficiency, reduce costs

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Fri, February 14 2020   /  01:47 am

After months of negotiations, telecommunication firm XL Axiata has agreed to sell its 2,782 telecommunication towers to two local companies and plans to use the proceeds to expand its 4G coverage, as well as to improve its mobile data network quality.XL Axiata finance director M. Adlan bin Ahmad Tajudin said in Jakarta on Wednesday that 1,728 towers had been sold to PT Profesional Telekomunikasi Indonesia (Protelindo) and 1,054 towers to PT Centratama Telekomunikasi Indonesia.The agreement on the sale of the towers was signed in Jakarta on Feb. 7. “We will raise Rp 4.05 trillion (US$296.55 million) from the sales and expect to close the deal by the end of the first quarter,” he said during a press briefing event in Jakarta.Following the sales, Adlan said the company would continue to use the towers by leasing it back from the buyers for 10 years. Such a move would help the company sa...