Edotco in potential sale of its regional tower operations [WATCH]
KUALA LUMPUR: Edotco Group Sdn Bhd, the tower infrastructure arm of Axiata Group Bhd, is selling its operations across Indonesia, the Philippines, Cambodia, Bangladesh, and Pakistan to multiple buyers, people privy to the deal told Business Times.
![Edotco in potential sale of its regional tower operations [WATCH]](/img/19732678)
Edotco Group Sdn Bhd, a telecommunications infrastructure company controlled by Axiata Group Berhad, is reportedly planning to divest its Asian tower operations to multiple investors, potentially including Macquarie Asset Management, CVC Capital Partners, and the Employees Provident Fund. This move, if confirmed, would see Edotco shed its presence in Indonesia, the Philippines, Cambodia, Bangladesh, and Pakistan, leaving the firm with only its operations in Malaysia and Sri Lanka.
The divestment, which could be finalized as early as today, would result in significant liquidity for Axiata, allowing the company to reduce its debt and invest in other growth areas. Axiata's strategy of monetizing its infrastructure assets aligns with its broader "Axiata28" plan, which aims to lower debt-to-EBITDA ratios and boost shareholder value.
Industry experts note that the varied risk and return profiles of the different markets explain why Edotco's assets will be sold in multiple tranches rather than as a single bloc.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
