XL Axiata

XL Axiata – Q3 24 Quick Take: Slower on softer spend but continued margin expansion

Indonesian Telcos - Q2 24 review: Continued margin expansion from XL and Indosat; trimmed target price for TLKM

XL Axiata – Q2 24 Quick Take: Slower but solid, good KPIs, guidance reiterated

Indonesian Telcos - Q1 24 review: Improvements across the board; final consolidation move imminent?

Indonesian Telcos – Final piece of the consolidation jigsaw? Proposed merger between XL and Smartfren. Our thoughts with implications for the telcos and the towers.