Mobile-8 continues debt to stock conversion plan

21 Jan 2010

Indonesian telecoms operator Mobile-8 Telecom is continuing its plan to convert debt into shares, VivaNews reports quoting managing director Fachys Merza. According to Merza, the company’s total liability amounts to approximately IDR3 trillion (USD325 million). The director said his firm will continue to forge ahead with its debt restructuring programme adding, ‘We’re still close to other creditors. Currently, the process of negotiation is still going on.’

Indonesia, Mobile-8 Telecom