XL trims 2008 subscriber target amid deepening economic gloom

24 Nov 2008

Indonesian mobile operator Excelcomindo Pratama (XL) is considering revising down its subscriber target for 2008 amid the quickening economic downturn. The company had envisaged signing up between 27-28 million customers by the end of this year, but is now lowering its sights to 25-27 million. On a more positive note, XL is confident that it will reach a decision on its proposed USD900 million sale of its tower assets by that date. Local press reports suggest that two investment firms – Saratoga Capital and Recapital – are interested in buying the infrastructure which includes approximately 7,000 base stations.

Indonesia, XL Axiata