Axiata shortlisted to bid for Myanmar telecoms tower company

KUALA LUMPUR, June 25 — Axiata Group Bhd today confirmed that it has been shortlisted to bid for Myanmar telecoms tower company, Irrawaddy Green Towers (IGT). 

Executive director and deputy group chief executive officer Datuk Izzaddin Idris said the bid, through subsidiary, edotco Group Sdn Bhd, was in line with Axiata’s trajectory to grow its current base to 50,000 towers from 20,000 towers in the region. 

“There are many opportunities in the region, not just in Myanmar. We are looking at other opportunities as well,” he told reporters after a signing ceremony between Axiata Digital and Great Eastern on a strategic investment.

Besides Axiata, two other companies, China’s Guodong Group and global private equity firm, CVC Capital Partners, have also been shortlisted to bid for IGT.

According to news reports, IGT is estimated to be worth US$800 million (RM3.42 billion) and a preferred bidder is expected to be announced next month.

At the close today, Axiata shares fell nine sen to RM3.39 with 9.07 million shares traded. — Bernama

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