Axiata tower unit moves on stake sale - Mobile World Live

Axiata tower unit moves on stake sale

30 MAR 2023

As many as four potential buyers were shortlisted to take a stake in Malaysia-based Axiata Group’s tower business edotco, in a sale with the potential to raise as much as $750 million, Bloomberg reported.

The news agency indicated the next round of bidding will include CVC Capital Partners, I Squared Capital, Stonepeak Partners and a Mitsui-led consortium involving KDDI and JTower involved.

Bloomberg noted if existing edotco shareholders, including Axiata Group, opt to offload their stakes, the share sale could generate more than $1 billion.

The potential buyers are undertaking due diligence, with a deadline for binding bids in mid-May Bloomberg stated.

Axiata Group was tipped to raise funds to fuel growth across Asia Pacific through a sale of shares in 2022.

The tower unit’s revenue grew 27.3 per cent year-on-year to MYR676.2 million ($153 million) in Q4, with net profit down 13.9 per cent to MYR55.3 million.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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