edotco Completes Acquisition of Myanmar Tower Company to Solidify its Position as a Leading Telecommunications Infrastructure Provider in Asia
Kuala Lumpur, 4 December 2015 – Axiata Group Berhad (“Axiata”) today announced that its wholly-owned subsidiary, edotco Group Sdn Bhd (“edotco Group”), has completed the acquisition of a 75% stake in Digicel Myanmar Tower Company Limited (“MTC”) via a Singapore based holding company, Digicel Asian Holdings Pte. Ltd. (“DAH”).
Axiata also confirmed that Yoma Strategic Holding Ltd. (“Yoma Strategic”) has signed a definitive agreement with edotco to retain its 25% effective interest in MTC.
Initially announced on 2 October 2015, the transaction values MTC at an enterprise value of USD221 million and will deliver to edotco Group:-
- Strategic majority control providing a platform in a highly attractive tower industry within edotco’s geographic area of focus
- Further solidify edotco as a leading infrastructure provider to the greater Southeast Asian telecom industry
- Expand edotco’s footprint beyond Axiata’s existing operations
edotco Group’s Chief Executive Officer, Suresh Sidhu said, “This important and strategic acquisition cements edotco’s position as a leading telecommunications infrastructure provider in the greater Southeast Asia region. We are confident that edotco Group is well-positioned to bring improvements in operational efficiency and capex savings on infrastructure in the Myanmar telecommunications landscape.
We are also pleased that our entry into the Myanmar tower business is with Yoma Strategic which brings along its strong local experience and network expertise. Together, we look forward to solidify our position in the market.”
President & Group Chief Executive Officer of Axiata, Dato’ Sri Jamaludin Ibrahim said, “We are pleased to have completed this acquisition and to expand our footprint into Myanmar. With our broader vision of Advancing Asia by piecing together people, connectivity and technology, Axiata has a proven track record of being a committed, long-term investor in all countries we operate in. This deal gives us the opportunity to be part of Myanmar’s telecommunications future and to contribute to its nation-building and development of the country, bringing international best practices and expertise.”
Axiata established edotco in 2012 as an independently managed tower and infrastructure service provider. Since its inception, edotco has made significant progress in strengthening its operational efficiency and now manages 15,000 towers and 12,000km of fibre across its five countries of operations namely, Malaysia, Bangladesh, Cambodia, Sri Lanka and Pakistan.
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Established in 2012, edotco is a wholly owned telecommunication infrastructure services subsidiary of Axiata with independence in its management and operations. edotco provides end-to-end solutions in the tower services sector including co-locations, build-to-suit, energy, transmission and operations and maintenance in the region of Asia.
As the first regional tower services provider in Asia, edotco delivers equal access and efficient telecommunications infrastructure services and solutions across a portfolio of 15,000 towers in our countries of operation: Malaysia, Sri Lanka, Bangladesh, Cambodia and Pakistan. edotco’s services are supported by our state-of-the-art real time monitoring service, echo.
For more information, kindly visit www.edotcogroup.com
Axiata is one of the largest Asian telecommunications companies. Axiata has controlling interests in mobile operators in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia with significant strategic stakes in India and Singapore. The Group’s mobile subsidiaries and associates operate under the brand name ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia, ‘Idea’ in India and ‘M1’ in Singapore.
The Group, including its subsidiaries and associates, has over 260 million mobile subscribers in Asia. The Group revenue for 2014 was RM18.7 billion. Axiata’s vision is to be a regional champion by 2015 by piecing together the best throughout the region in connectivity, technology and talent, uniting them towards a single goal: Advancing Asia.