Tuesday, June 18, 2019 05:03:18 PM

Axiata in talks for US$900 million acquisitions

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KUALA LUMPUR: Telecoms firm Axiata Group Bhd’s tower unit is working on acquisition deals amounting to more than US$900 million (RM3.7 billion), which it aims to complete in the next 12 months, the company’s CEO said.

Suresh Sidhu, CEO of edotco Group Sdn Bhd, told Reuters yesterday he was optimistic that two to three deals could materialise in the company’s existing markets where the sector has developed.

edotco, 62.4% owned by Axiata, currently operates and manages a regional portfolio of more than 28,000 towers in Malaysia, Myanmar, Bangladesh, Cambodia, Sri Lanka and Pakistan.

“The priority is to look at the current footprint we are in and look for opportunities to bulk up and add more towers there,” he told Reuters. “Again, Malaysia, Myanmar, Bangladesh are countries of higher interest to us….

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