PT XL Axiata Tbk, a telecommunication company, will start selling its telecommunication towers in July to pay debt, said finance director Mohamed Adlan.
The company’s total liabilities in the first quarter of this year reached around 46.25 trillion rupiah ($3.90 billion). It currently owns about 8,000 towers. (Kontan, Investor Daily, Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,845 rupiah) (Compiled by Jakarta Newsroom; Editing by Gopakumar Warrier)