Excelcom may not reach subscriber target due to economic recession (Indonesia)
PT Excelcomindo Pratama Tbk, Indonesia’s third largest operator, say that it may miss its subscriber target for the year 2008, which stood at 25.1 million by September end driven by financial crunches.The operator further confirmed to sell its telecom towers for up to $900 million by the end of 2008 and to announce the winning bidder for its towers later this year and close the deal by early 2009.
“Challenges entering the fourth quarter are bigger due to heated competition and a less conducive economy,” Hasnul Suhaimi said. “We were targetting about 27-28 million subscribers by 2008 end, but looking at current conditions, it may slow to a range of 25-27 million.”
