Axiata looking to expand tower assets in India

Slower growth: Idea Cellular, which has 176 million subscribers in India, said the mobile sector continued to grow in single digits unlike last year when the sector posted a double digit growth. — Reuters

NEW DELHI: Malaysian telecommunications group Axiata Sdn Bhd is looking at buying a stake in Indian tower assets to grow its presence in the country, an Indian business newspaper reported.

Axiata owns about 20% of Indian telecom services provider, Idea Cellular, which is merging with Vodafone India to create the country’s biggest mobile network with about 390 million combined subscribers.

The Hindu Business Line reported that many Indian telecom operators, including Idea Cellular and Vodafone, were looking to exit their tower assets to focus on their core business and Axiata was in talks with them for an acquisition.

An Axiata spokesperson told the paper the group is “currently engaged in analysing all potential impact on Axiata arising from the proposed merger” of Idea and Vodafone India and its “next course of action, if any, will be based on the outcome of a comprehensive analysis”.

Axiata unit Edotco’s portfolio includes more than 17,000 towers in Malaysia, Sri Lanka, Bangladesh, Cambodia, Pakistan and Myanmar. — Bernama